Integrated Investment Consultants LLC Makes New Investment in Pinnacle West Capital Co. (NYSE:PNW)

Integrated Investment Consultants LLC acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,800 shares of the utilities provider's stock, valued at approximately $831,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Pinnacle West Capital by 24.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider's stock worth $533,562,000 after purchasing an additional 1,379,368 shares during the period. Assenagon Asset Management S.A. raised its holdings 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 during the period. International Assets Investment Management LLC lifted its position in Pinnacle West Capital by 152,118.2% during the 3rd quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider's stock worth $22,925,000 after acquiring an additional 258,601 shares during the last quarter. Yaupon Capital Management LP bought a new stake in Pinnacle West Capital during the third quarter valued at about $22,173,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Pinnacle West Capital by 31.2% in the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider's stock valued at $64,550,000 after purchasing an additional 200,816 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of NYSE PNW traded up $0.31 during midday trading on Friday, reaching $86.75. 751,159 shares of the company traded hands, compared to its average volume of 876,606. The stock's 50-day simple moving average is $88.12 and its 200-day simple moving average is $86.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. The firm has a market cap of $9.86 billion, a PE ratio of 16.43, a PEG ratio of 3.24 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid 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 is 67.80%.

Analysts Set New Price Targets

A number of analysts have issued reports on PNW shares. Morgan Stanley lowered their target price on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Citigroup upped their price objective 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. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Finally, Barclays lowered Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of "Hold" and an average target price of $84.65.

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.