Pinnacle West Capital Co. (NYSE:PNW) Short Interest Update

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 3,530,000 shares, an increase of 16.9% from the January 15th total of 3,020,000 shares. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PNW shares. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Morgan Stanley cut their target price 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 dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Barclays lowered shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Citigroup increased their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $85.21.

Pinnacle West Capital Stock Up 0.4 %

Shares of PNW traded up $0.39 during mid-day trading on Thursday, hitting $90.79. 733,425 shares of the company's stock were exchanged, compared to its average volume of 996,995. The firm has a fifty day moving average of $86.18 and a two-hundred day moving average of $87.94. Pinnacle West Capital has a twelve month low of $66.77 and a twelve month high of $95.42. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.56 and a beta of 0.57. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 3.94%. Pinnacle West Capital's payout ratio is presently 67.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PNW. YANKCOM Partnership acquired a new position in Pinnacle West Capital in the 4th quarter valued at $29,000. Canada Post Corp Registered Pension Plan acquired a new position in Pinnacle West Capital in the 4th quarter valued at $35,000. Venturi Wealth Management LLC grew its stake in Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock valued at $38,000 after buying an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital in the 4th quarter valued at $38,000. Finally, Roble Belko & Company Inc acquired a new position in Pinnacle West Capital in the 4th quarter valued at $42,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.