Gateway Investment Advisers LLC Has $4.47 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Gateway Investment Advisers LLC trimmed its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,701 shares of the utilities provider's stock after selling 4,513 shares during the period. Gateway Investment Advisers LLC's holdings in Pinnacle West Capital were worth $4,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mirador Capital Partners LP raised its stake in shares of Pinnacle West Capital by 2.3% during the 4th quarter. Mirador Capital Partners LP now owns 8,768 shares of the utilities provider's stock worth $743,000 after purchasing an additional 199 shares in the last quarter. ERn Financial LLC lifted its position in shares of Pinnacle West Capital by 25.4% during the 4th quarter. ERn Financial LLC now owns 16,073 shares of the utilities provider's stock worth $1,363,000 after purchasing an additional 3,257 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Burney Co. boosted its holdings in Pinnacle West Capital by 17.9% in the 4th quarter. Burney Co. now owns 16,602 shares of the utilities provider's stock valued at $1,407,000 after purchasing an additional 2,523 shares during the period. Finally, Park Avenue Securities LLC grew its position in Pinnacle West Capital by 22.8% during the fourth quarter. Park Avenue Securities LLC now owns 3,213 shares of the utilities provider's stock worth $272,000 after buying an additional 597 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays cut Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Morgan Stanley reduced their target price on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective 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, Citigroup upped their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $84.65.

Pinnacle West Capital Price Performance

NYSE PNW traded up $0.31 during trading hours on Friday, reaching $86.75. 751,159 shares of the company's stock were exchanged, compared to its average volume of 876,606. 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 cap of $9.86 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.24 and a beta of 0.56. The firm has a fifty day moving average of $88.12 and a 200-day moving average of $86.93. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $95.42.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 4.13%. Pinnacle West Capital's dividend payout ratio (DPR) is 67.80%.

Pinnacle West Capital Company 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.