Entropy Technologies LP Sells 11,133 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Entropy Technologies LP lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 36.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,181 shares of the utilities provider's stock after selling 11,133 shares during the period. Entropy Technologies LP's holdings in Pinnacle West Capital were worth $1,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PNW. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Venturi Wealth Management LLC boosted its stake in Pinnacle West Capital by 124.6% during the 3rd 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. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $38,000. Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital during the third quarter worth $43,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock traded up $0.37 during mid-day trading on Thursday, hitting $89.38. 670,749 shares of the company's stock traded hands, compared to its average volume of 1,019,150. The firm has a 50 day simple moving average of $86.24 and a two-hundred day simple moving average of $87.81. Pinnacle West Capital Co. has a fifty-two week low of $66.64 and a fifty-two week high of $95.42. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 3.47 and a beta of 0.57. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's payout ratio is currently 67.80%.

Analysts Set New Price Targets

PNW has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of 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. Barclays downgraded shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Citigroup lifted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. 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, 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and a consensus 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.