Captrust Financial Advisors Buys 11,208 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Captrust Financial Advisors increased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 732,031 shares of the utilities provider’s stock after buying an additional 11,208 shares during the quarter. Captrust Financial Advisors’ holdings in Pinnacle West Capital were worth $64,851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. Public Sector Pension Investment Board boosted its stake in Pinnacle West Capital by 2.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,803 shares of the utilities provider’s stock worth $1,754,000 after purchasing an additional 500 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Pinnacle West Capital by 1.3% in the third quarter. Financial Counselors Inc. now owns 211,520 shares of the utilities provider’s stock worth $18,739,000 after buying an additional 2,751 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pinnacle West Capital by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,139 shares of the utilities provider’s stock worth $2,138,000 after buying an additional 1,733 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth about $314,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Pinnacle West Capital by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after buying an additional 163 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 0.8 %

Shares of NYSE PNW opened at $94.52 on Friday. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $89.31 and its two-hundred day simple moving average is $84.38. The stock has a market capitalization of $10.75 billion, a P/E ratio of 17.90, a PEG ratio of 2.24 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.895 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.88.

Pinnacle West Capital 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.