R Squared Ltd Purchases New Shares in Pinnacle West Capital Co. (NYSE:PNW)

R Squared Ltd purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,830 shares of the utilities provider's stock, valued at approximately $409,000.

A number of other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings 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 worth $38,000 after purchasing an additional 238 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital in the third quarter valued at approximately $43,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the 4th quarter valued at approximately $42,000. Kennebec Savings Bank acquired a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $64,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Pinnacle West Capital by 27.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 899 shares of the utilities provider's stock worth $76,000 after acquiring an additional 192 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PNW. Citigroup raised their price target 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. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. Morgan Stanley decreased their price target on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on 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. Finally, Barclays cut Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Eight 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, the company has an average rating of "Hold" and a consensus target price of $85.21.

Pinnacle West Capital Stock Down 0.2 %

Shares of PNW traded down $0.19 during trading hours on Friday, reaching $86.94. The stock had a trading volume of 1,137,013 shares, compared to its average volume of 994,700. 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 firm has a 50-day simple moving average of $87.09 and a 200 day simple moving average of $87.48. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 3.40 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.12%. Pinnacle West Capital's dividend payout ratio is presently 67.80%.

About Pinnacle West Capital

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.