Wealthcare Advisory Partners LLC Acquires Shares of 10,904 Pinnacle West Capital Co. (NYSE:PNW)

Wealthcare Advisory Partners LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,904 shares of the utilities provider's stock, valued at approximately $924,000.

Several other institutional investors have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Pinnacle West Capital by 24.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider's stock valued at $533,562,000 after purchasing an additional 1,379,368 shares in the last quarter. State Street Corp grew its position in shares of Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after purchasing an additional 56,644 shares during the period. Zimmer Partners LP grew its position in shares of Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock valued at $256,882,000 after purchasing an additional 155,466 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Pinnacle West Capital by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider's stock valued at $91,078,000 after buying an additional 5,066 shares during the period. Finally, Empower Advisory Group LLC increased its stake in shares of Pinnacle West Capital by 2.0% during the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider's stock valued at $86,230,000 after acquiring an additional 18,673 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNW has been the topic of several research analyst reports. Citigroup raised their target price 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. Wells Fargo & Company boosted their price objective 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. Morgan Stanley dropped their price objective 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. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Finally, Barclays lowered 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 note on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $84.65.

Pinnacle West Capital Stock Up 0.4 %

PNW traded up $0.31 during trading hours on Monday, reaching $86.75. 751,159 shares of the stock traded hands, compared to its average volume of 876,606. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $95.42. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.24 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm's fifty day simple moving average is $88.02 and its two-hundred day simple moving average is $87.09.

Pinnacle West Capital Announces Dividend

The firm 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. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's payout ratio is 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.