Daiwa Securities Group Inc. Acquires 364 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Daiwa Securities Group Inc. grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 13.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,039 shares of the utilities provider’s stock after buying an additional 364 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pinnacle West Capital were worth $218,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. FMR LLC raised its holdings in shares of Pinnacle West Capital by 1.0% in the 3rd quarter. FMR LLC now owns 1,153,505 shares of the utilities provider’s stock valued at $84,990,000 after purchasing an additional 11,591 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 in the last quarter. Empower Advisory Group LLC raised its stake in shares of 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 in the last quarter. California Public Employees Retirement System raised its stake in shares of 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of 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 in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PNW shares. Mizuho reduced their price objective on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Evercore ISI reduced their price objective on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. StockNews.com lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Royal Bank of Canada reduced their price objective on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, March 1st. Finally, Guggenheim raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.00.

Pinnacle West Capital Stock Down 0.7 %

PNW stock opened at $73.69 on Friday. The firm’s fifty day simple moving average is $71.88 and its 200-day simple moving average is $72.13. The company has a market capitalization of $8.37 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.50. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $86.03.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 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.