Roble Belko & Company Inc Acquires New Stake in Pinnacle West Capital Co. (NYSE:PNW)

Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 500 shares of the utilities provider’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortem Financial Group LLC boosted its stake in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC boosted its position in Pinnacle West Capital by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after buying an additional 138 shares during the period. Glenmede Trust Co. NA grew its stake 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 acquiring an additional 163 shares in the last quarter. LRI Investments LLC increased its position in shares of Pinnacle West Capital by 7.0% during the third quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock worth $227,000 after acquiring an additional 163 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Pinnacle West Capital by 2.6% in the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock valued at $583,000 after acquiring an additional 169 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $84.39 on Thursday. The stock’s 50-day moving average is $88.28 and its two-hundred day moving average is $86.78. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $95.42. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 15.98, a PEG 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. Investors 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 dividend on an annualized basis and a yield of 4.24%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Morgan Stanley reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.65.

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.