SG Americas Securities LLC Decreases Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC lowered its position in Pinnacle West Capital Co. (NYSE:PNW) by 53.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,708 shares of the utilities provider’s stock after selling 71,929 shares during the quarter. SG Americas Securities LLC owned 0.06% of Pinnacle West Capital worth $5,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after purchasing an additional 466,736 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Pinnacle West Capital by 152,118.2% in the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after buying an additional 258,601 shares during the last quarter. Yaupon Capital Management LP acquired a new stake in Pinnacle West Capital in the third quarter valued at $22,173,000. 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 valued at $64,550,000 after acquiring an additional 200,816 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Pinnacle West Capital during the 2nd quarter worth $15,249,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNW has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Citigroup lifted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price objective 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.21.

Pinnacle West Capital Stock Up 0.5 %

Pinnacle West Capital stock opened at $85.80 on Friday. 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 one year low of $65.20 and a one year high of $95.42. The company has a 50-day simple moving average of $87.63 and a 200-day simple moving average of $87.22. The firm has a market capitalization of $9.76 billion, a P/E ratio of 16.25, a P/E/G ratio of 3.40 and a beta of 0.56.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

Pinnacle West Capital Company 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.