Toronto Dominion Bank Purchases 7,087 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Toronto Dominion Bank lifted its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 15.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,534 shares of the utilities provider's stock after purchasing an additional 7,087 shares during the period. Toronto Dominion Bank's holdings in Pinnacle West Capital were worth $4,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle West Capital by 0.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider's stock worth $1,659,000 after buying an additional 199 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Pinnacle West Capital by 8.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,365 shares of the utilities provider's stock valued at $410,000 after acquiring an additional 430 shares during the last quarter. Blue Trust Inc. increased its position in Pinnacle West Capital by 377.9% during the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 291 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Pinnacle West Capital by 0.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,743 shares of the utilities provider's stock worth $2,806,000 after purchasing an additional 343 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock worth $61,000 after purchasing an additional 137 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

NYSE:PNW traded down $1.16 during trading on Friday, reaching $87.55. The company's stock had a trading volume of 1,008,616 shares, compared to its average volume of 1,157,588. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a 50 day moving average of $89.67 and a 200-day moving average of $85.54.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio is 67.80%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PNW shares. 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 report on Thursday, November 7th. 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. Morgan Stanley dropped their price target on 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. 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 research report on Wednesday, December 4th. Finally, KeyCorp raised shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of "Hold" and an average target price of $84.65.

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.