MQS Management LLC Purchases Shares of 5,716 Pinnacle West Capital Co. (NYSE:PNW)

MQS Management LLC bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,716 shares of the utilities provider's stock, valued at approximately $506,000.

A number of other institutional investors have also recently modified their holdings of PNW. Blue Trust Inc. lifted its position in shares of Pinnacle West Capital by 377.9% during the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 291 shares during the period. Cape Investment Advisory Inc. acquired a new stake in Pinnacle West Capital in the first quarter valued at about $30,000. Venturi Wealth Management LLC grew its position in Pinnacle West Capital by 124.6% in the third 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 last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Pinnacle West Capital during the second quarter worth about $52,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Pinnacle West Capital by 20.9% in the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock worth $61,000 after acquiring an additional 137 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Down 0.4 %

Shares of Pinnacle West Capital stock traded down $0.36 during trading on Thursday, hitting $90.86. The company's stock had a trading volume of 988,440 shares, compared to its average volume of 1,152,962. 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 52 week low of $65.20 and a 52 week high of $93.12. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The stock has a 50-day moving average price of $88.62 and a two-hundred day moving average price of $83.15.

Pinnacle West Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.895 dividend. This is a boost from Pinnacle West Capital's previous quarterly dividend of $0.88. The ex-dividend date is Monday, November 4th. This represents a $3.58 annualized dividend and a dividend yield of 3.94%. Pinnacle West Capital's payout ratio is currently 67.80%.

Analysts Set New Price Targets

PNW has been the topic of several research reports. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They set a "buy" rating and a $104.00 price target on the stock. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and an average price target of $80.96.

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.