Caprock Group LLC Makes New $1.45 Million Investment in Pinnacle West Capital Corporation $PNW

Caprock Group LLC acquired a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,070 shares of the utilities provider’s stock, valued at approximately $1,450,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PNW. Caldwell Trust Co bought a new stake in shares of Pinnacle West Capital in the 2nd quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital during the 2nd quarter valued at about $27,000. Bayforest Capital Ltd purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $29,000. Quent Capital LLC purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $30,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $32,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PNW shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $103.00 target price on shares of Pinnacle West Capital in a research report on Friday, January 23rd. UBS Group lifted their price target 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. Zacks Research upgraded Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. Finally, BMO Capital Markets restated a “market perform” rating and set a $99.00 price target on shares of Pinnacle West Capital in a report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $96.42.

Pinnacle West Capital Trading Up 2.2%

Pinnacle West Capital stock opened at $99.43 on Friday. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $99.69. The stock has a market cap of $11.90 billion, a PE ratio of 20.42, a P/E/G ratio of 5.95 and a beta of 0.54. The stock has a 50-day moving average price of $90.88 and a 200 day moving average price of $90.21. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 3.7%. Pinnacle West Capital’s dividend 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.