Yousif Capital Management LLC Has $2.05 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Yousif Capital Management LLC boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 54.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,212 shares of the utilities provider's stock after purchasing an additional 8,507 shares during the quarter. Yousif Capital Management LLC's holdings in Pinnacle West Capital were worth $2,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PNW. HITE Hedge Asset Management LLC raised its position in shares of Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider's stock valued at $8,178,000 after buying an additional 66,755 shares during the last quarter. XTX Topco Ltd bought a new position in Pinnacle West Capital during the third quarter valued at about $2,235,000. Principal Financial Group Inc. raised its holdings in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider's stock valued at $12,336,000 after acquiring an additional 9,993 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Pinnacle West Capital by 170.1% in the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider's stock worth $2,686,000 after acquiring an additional 19,089 shares during the period. Finally, Bridgewater Associates LP increased its position in shares of Pinnacle West Capital by 104.5% during the third quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider's stock valued at $9,034,000 after purchasing an additional 52,095 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

NYSE PNW traded up $0.02 on Friday, hitting $89.37. 1,003,110 shares of the company were exchanged, compared to its average volume of 1,018,614. Pinnacle West Capital Co. has a 1-year low of $66.77 and a 1-year high of $95.42. The firm has a 50 day moving average of $86.14 and a two-hundred day moving average of $87.85. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market cap of $10.16 billion, a P/E ratio of 16.93, a P/E/G ratio of 3.47 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 given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. Pinnacle West Capital's payout ratio is 67.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNW shares. Morgan Stanley reduced their target price on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. Citigroup raised their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Barclays lowered shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Wells Fargo & Company boosted 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. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $85.21.

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.