GPS Wealth Strategies Group LLC Sells 3,470 Shares of Pinnacle West Capital Co. (NYSE:PNW)

GPS Wealth Strategies Group LLC lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 53.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,071 shares of the utilities provider's stock after selling 3,470 shares during the period. GPS Wealth Strategies Group LLC's holdings in Pinnacle West Capital were worth $260,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PNW. Millennium Management LLC increased its position in Pinnacle West Capital by 75.3% during the 2nd quarter. Millennium Management LLC now owns 237,744 shares of the utilities provider's stock worth $18,159,000 after purchasing an additional 102,134 shares in the last quarter. Creative Planning grew its stake in Pinnacle West Capital by 36.9% during the second quarter. Creative Planning now owns 23,444 shares of the utilities provider's stock worth $1,791,000 after buying an additional 6,322 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Pinnacle West Capital by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,325 shares of the utilities provider's stock worth $483,000 after acquiring an additional 440 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Pinnacle West Capital in the 2nd quarter valued at $372,000. Finally, Czech National Bank raised its stake in shares of Pinnacle West Capital by 6.9% in the 3rd quarter. Czech National Bank now owns 23,133 shares of the utilities provider's stock valued at $2,049,000 after acquiring an additional 1,494 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNW. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, November 22nd. Finally, Citigroup increased 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 report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and an average price target of $85.21.

Pinnacle West Capital Stock Down 0.6 %

NYSE PNW traded down $0.53 during trading on Thursday, hitting $87.77. 557,806 shares of the company traded hands, compared to its average volume of 1,039,146. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. 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 business has a fifty day simple moving average of $86.72 and a 200 day simple moving average of $87.64. The company has a market capitalization of $9.98 billion, a P/E ratio of 16.62, a PEG ratio of 3.44 and a beta of 0.57.

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 paid a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.08%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio 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.