Swiss National Bank Acquires 2,400 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Swiss National Bank boosted its position in Pinnacle West Capital Co. (NYSE:PNWFree Report) by 1.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 249,000 shares of the utilities provider’s stock after purchasing an additional 2,400 shares during the period. Swiss National Bank owned about 0.22% of Pinnacle West Capital worth $18,346,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNW. HighTower Advisors LLC grew its position in Pinnacle West Capital by 8.0% in the 1st quarter. HighTower Advisors LLC now owns 21,980 shares of the utilities provider’s stock worth $1,718,000 after purchasing an additional 1,630 shares in the last quarter. MetLife Investment Management LLC grew its position in Pinnacle West Capital by 23.1% in the 1st quarter. MetLife Investment Management LLC now owns 30,693 shares of the utilities provider’s stock worth $2,397,000 after purchasing an additional 5,768 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Pinnacle West Capital by 5.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,722 shares of the utilities provider’s stock valued at $2,599,000 after acquiring an additional 1,681 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pinnacle West Capital by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 494,515 shares of the utilities provider’s stock valued at $38,620,000 after acquiring an additional 31,526 shares during the period. Finally, Sei Investments Co. grew its position in shares of Pinnacle West Capital by 7.8% during the 1st quarter. Sei Investments Co. now owns 135,551 shares of the utilities provider’s stock valued at $10,571,000 after acquiring an additional 9,777 shares during the period. 84.95% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $67.00 on Friday. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $86.03. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.85. The stock has a market capitalization of $7.60 billion, a PE ratio of 15.95, a P/E/G ratio of 3.49 and a beta of 0.49. The company’s 50 day simple moving average is $71.66 and its two-hundred day simple moving average is $74.38.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 1st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.25%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio is presently 83.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PNW shares. Wells Fargo & Company reduced their target price on shares of Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, January 26th. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 21st. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Mizuho reduced their target price on shares of Pinnacle West Capital from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Finally, Guggenheim raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Monday, January 22nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.63.

Read Our Latest Report on Pinnacle West Capital

Insiders Place Their Bets

In other news, EVP Robert Edgar Smith sold 1,610 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $75.95, for a total transaction of $122,279.50. Following the sale, the executive vice president now owns 9,178 shares in the company, valued at approximately $697,069.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Pinnacle West Capital Company Profile

(Free Report)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

See Also

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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