GSA Capital Partners LLP Acquires New Holdings in Pinnacle West Capital Co. (NYSE:PNW)

GSA Capital Partners LLP bought a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,220 shares of the utilities provider's stock, valued at approximately $905,000.

Several other institutional investors also recently bought and sold shares of PNW. Blue Trust Inc. boosted its holdings in Pinnacle West Capital by 377.9% in the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in shares of Pinnacle West Capital in the first quarter worth $30,000. Venturi Wealth Management LLC lifted its stake in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 238 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Pinnacle West Capital during the second quarter valued at approximately $52,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock worth $61,000 after buying an additional 137 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They issued a "buy" rating and a $104.00 target price on the stock. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $80.96.

Pinnacle West Capital Trading Up 1.1 %

PNW stock traded up $1.02 during mid-day trading on Friday, reaching $91.88. The company had a trading volume of 3,587,423 shares, compared to its average volume of 1,508,336. The firm has a 50 day moving average of $88.75 and a 200 day moving average of $83.38. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $93.12. The company has a market capitalization of $10.45 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 3.90%. This is a boost from Pinnacle West Capital's previous quarterly dividend of $0.88. The ex-dividend date is Monday, November 4th. Pinnacle West Capital's dividend payout ratio is presently 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.