Mutual Advisors LLC Has $344,000 Stock Holdings in Pinnacle West Capital Corporation $PNW

Mutual Advisors LLC trimmed its position in Pinnacle West Capital Corporation (NYSE:PNW) by 59.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,721 shares of the utilities provider’s stock after selling 5,413 shares during the quarter. Mutual Advisors LLC’s holdings in Pinnacle West Capital were worth $344,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Pinnacle West Capital in the fourth quarter valued at about $417,000. NewEdge Advisors LLC boosted its stake in shares of Pinnacle West Capital by 999.1% in the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock valued at $782,000 after purchasing an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Pinnacle West Capital by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock worth $42,010,000 after purchasing an additional 41,173 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Pinnacle West Capital by 12.8% in the 1st quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the topic of a number of research reports. TD Cowen began coverage on shares of Pinnacle West Capital in a research note on Thursday, October 16th. They set a “hold” rating and a $97.00 target price on the stock. UBS Group boosted their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Zacks Research raised Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Morgan Stanley restated an “underperform” rating on shares of Pinnacle West Capital in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $96.42.

Pinnacle West Capital Trading Down 1.1%

PNW opened at $93.57 on Friday. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $96.50. The company has a fifty day moving average of $90.11 and a 200-day moving average of $90.02. The stock has a market cap of $11.20 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 5.60 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 3.9%. Pinnacle West Capital’s payout ratio is 74.74%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.