SG Americas Securities LLC Cuts Stake in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC reduced its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 53.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,708 shares of the utilities provider's stock after selling 71,929 shares during the period. SG Americas Securities LLC owned approximately 0.06% of Pinnacle West Capital worth $5,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PNW. Venturi Wealth Management LLC raised its stake in shares of Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock worth $38,000 after buying an additional 238 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Pinnacle West Capital in the third quarter worth $43,000. Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $42,000. Kennebec Savings Bank purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter worth $64,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Finally, Morgan Stanley dropped their price target 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. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Pinnacle West Capital presently has a consensus rating of "Hold" and a consensus price target of $85.21.

Pinnacle West Capital Trading Up 0.5 %

PNW traded up $0.43 during midday trading on Friday, hitting $85.80. The company's stock had a trading volume of 1,751,708 shares, compared to its average volume of 833,247. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $95.42. The firm has a 50-day moving average price of $87.63 and a two-hundred day moving average price of $87.22. 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 market cap of $9.76 billion, a P/E ratio of 16.25, a PEG ratio of 3.40 and a beta of 0.56.

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 dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio (DPR) is 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.