Coldstream Capital Management Inc. Purchases 299 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Coldstream Capital Management Inc. raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 10.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,110 shares of the utilities provider’s stock after acquiring an additional 299 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Pinnacle West Capital were worth $276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 291 shares in the last quarter. Venturi Wealth Management LLC increased its position in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after buying an additional 238 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Pinnacle West Capital in the third quarter worth about $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter valued at about $52,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Down 1.7 %

Shares of NYSE PNW opened at $86.02 on Tuesday. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-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 business’s 50 day moving average is $89.67 and its two-hundred day moving average is $85.54. The stock has a market capitalization of $9.78 billion, a P/E ratio of 16.29, a PEG ratio of 2.10 and a beta of 0.54.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 4.16%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PNW shares. 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. Wells Fargo & Company raised their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research report on Wednesday, December 4th. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Finally, Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and an average price target 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.