Cerity Partners LLC Raises Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Cerity Partners LLC boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,910 shares of the utilities provider’s stock after purchasing an additional 1,321 shares during the period. Cerity Partners LLC’s holdings in Pinnacle West Capital were worth $3,298,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Gravity Asset Management Inc. lifted its holdings in shares of Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 274 shares during the last quarter. Tobam increased its position in Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 393 shares during the period. Pacific Center for Financial Services purchased a new stake in shares of Pinnacle West Capital in the 1st quarter worth about $40,000. Blue Trust Inc. grew its position in shares of Pinnacle West Capital by 985.7% in the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock worth $39,000 after buying an additional 483 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $44,000. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Up 1.1 %

Pinnacle West Capital stock opened at $71.97 on Thursday. The firm has a 50 day moving average of $70.83 and a 200 day moving average of $72.04. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.02 and a beta of 0.49. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $86.03. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.89%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 79.82%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Guggenheim raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Monday, January 22nd. StockNews.com cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Evercore ISI lowered their price objective on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating on the stock in a research note on Monday, March 4th. LADENBURG THALM/SH SH started coverage on shares of Pinnacle West Capital in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Mizuho lowered their price objective on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.00.

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.