Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. decreased its stake in Pinnacle West Capital Co. (NYSE:PNW) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,587 shares of the utilities provider’s stock after selling 154 shares during the period. Pinnacle West Capital accounts for 2.2% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 11th largest holding. Keystone Financial Planning Inc. owned about 0.07% of Pinnacle West Capital worth $7,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter worth $702,000. Ashton Thomas Private Wealth LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter worth $52,000. Daiwa Securities Group Inc. boosted its stake in Pinnacle West Capital by 22.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,566 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 833 shares during the period. Meeder Advisory Services Inc. acquired a new stake in Pinnacle West Capital during the 2nd quarter worth $216,000. Finally, Dimensional Fund Advisors LP boosted its stake in Pinnacle West Capital by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock worth $64,550,000 after purchasing an additional 200,816 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Citigroup upped their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.65.

Pinnacle West Capital Price Performance

NYSE:PNW traded up $1.07 during mid-day trading on Monday, hitting $82.83. 566,596 shares of the company’s stock traded hands, compared to its average volume of 993,114. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm’s 50 day simple moving average is $88.52 and its 200 day simple moving average is $86.70. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $95.42. The company has a market cap of $9.42 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.32%. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

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.