ERn Financial LLC Buys 3,257 Shares of Pinnacle West Capital Co. (NYSE:PNW)

ERn Financial LLC lifted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,073 shares of the utilities provider's stock after buying an additional 3,257 shares during the period. ERn Financial LLC's holdings in Pinnacle West Capital were worth $1,363,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Burney Co. raised its holdings in shares of Pinnacle West Capital by 17.9% during the fourth quarter. Burney Co. now owns 16,602 shares of the utilities provider's stock valued at $1,407,000 after acquiring an additional 2,523 shares during the period. Park Avenue Securities LLC grew its position in Pinnacle West Capital by 22.8% during the 4th quarter. Park Avenue Securities LLC now owns 3,213 shares of the utilities provider's stock worth $272,000 after purchasing an additional 597 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider's stock worth $57,413,000 after acquiring an additional 466,736 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of Pinnacle West Capital by 6.6% in the fourth quarter. Czech National Bank now owns 24,656 shares of the utilities provider's stock worth $2,090,000 after purchasing an additional 1,523 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays downgraded shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Jefferies Financial Group started coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They issued a "buy" rating and a $104.00 price objective on the stock. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Finally, Morgan Stanley cut their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and a consensus target price of $84.65.

Pinnacle West Capital Stock Up 2.1 %

Shares of PNW traded up $1.78 on Thursday, reaching $86.19. The company's stock had a trading volume of 440,614 shares, compared to its average volume of 1,009,801. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $95.42. The firm has a fifty day moving average of $88.28 and a 200-day moving average of $86.78. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $9.80 billion, a PE ratio of 16.32, a PEG ratio of 3.24 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 4.15%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 67.80%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.