Mutual of America Capital Management LLC Sells 684 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Mutual of America Capital Management LLC lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,171 shares of the utilities provider’s stock after selling 684 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pinnacle West Capital were worth $1,090,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Pinnacle West Capital by 1.0% during the 3rd quarter. FMR LLC now owns 1,153,505 shares of the utilities provider’s stock worth $84,990,000 after acquiring an additional 11,591 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Pinnacle West Capital by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 963,193 shares of the utilities provider’s stock worth $70,968,000 after acquiring an additional 9,696 shares during the last quarter. Empower Advisory Group LLC grew its holdings in Pinnacle West Capital by 1.5% during the 3rd quarter. Empower Advisory Group LLC now owns 886,891 shares of the utilities provider’s stock worth $65,346,000 after acquiring an additional 12,850 shares during the last quarter. California Public Employees Retirement System grew its holdings in Pinnacle West Capital by 4.4% during the 3rd quarter. California Public Employees Retirement System now owns 642,395 shares of the utilities provider’s stock worth $47,332,000 after acquiring an additional 27,082 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Pinnacle West Capital by 1.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 595,799 shares of the utilities provider’s stock worth $43,898,000 after acquiring an additional 8,436 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

PNW has been the topic of a number of research reports. Evercore ISI cut their target price on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating on the stock in a research report on Monday, March 4th. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $71.00 to $80.00 in a research report on Monday, March 18th. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Royal Bank of Canada cut their target price on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, March 1st. Finally, UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $71.00 in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.00.

Pinnacle West Capital Price Performance

Shares of PNW opened at $74.70 on Tuesday. The company has a 50 day moving average of $71.34 and a 200-day moving average of $72.09. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $86.03. The stock has a market capitalization of $8.48 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.09 and a beta of 0.49. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 79.82%.

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.