27,134 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 27,134 shares of the utilities provider's stock, valued at approximately $2,300,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Pinnacle West Capital by 3.2% during the third quarter. CWM LLC now owns 9,714 shares of the utilities provider's stock worth $861,000 after acquiring an additional 303 shares in the last quarter. Creative Planning raised its stake in shares of Pinnacle West Capital by 9.7% in the 3rd quarter. Creative Planning now owns 25,716 shares of the utilities provider's stock valued at $2,278,000 after purchasing an additional 2,272 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Pinnacle West Capital by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,085 shares of the utilities provider's stock valued at $1,425,000 after purchasing an additional 596 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Pinnacle West Capital by 193.5% during the third quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider's stock worth $96,000 after buying an additional 712 shares during the period. Finally, NovaPoint Capital LLC boosted its position in shares of Pinnacle West Capital by 6.2% during the third quarter. NovaPoint Capital LLC now owns 9,152 shares of the utilities provider's stock worth $811,000 after buying an additional 531 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNW shares. Citigroup boosted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note 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 report on Wednesday, December 4th. Morgan Stanley lowered their price target 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. Jefferies Financial Group reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Barclays downgraded Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $85.21.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW traded up $0.61 during midday trading on Wednesday, hitting $90.50. 675,260 shares of the company's stock were exchanged, compared to its average volume of 1,005,213. Pinnacle West Capital Co. has a 12 month low of $66.77 and a 12 month high of $95.42. The company's 50 day moving average price is $86.12 and its 200 day moving average price is $87.89. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $10.29 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio is presently 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.