Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by JBR Co Financial Management Inc

JBR Co Financial Management Inc reduced its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 14.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,025 shares of the utilities provider’s stock after selling 500 shares during the period. JBR Co Financial Management Inc’s holdings in Pinnacle West Capital were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PNW. Creative Planning grew its position in shares of Pinnacle West Capital by 9.7% during the 3rd quarter. Creative Planning now owns 25,716 shares of the utilities provider’s stock valued at $2,278,000 after acquiring an additional 2,272 shares during the period. Blue Trust Inc. grew its position in shares of Pinnacle West Capital by 193.5% during the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 712 shares during the period. Raymond James & Associates grew its position in shares of Pinnacle West Capital by 30.3% during the 3rd quarter. Raymond James & Associates now owns 37,019 shares of the utilities provider’s stock valued at $3,280,000 after acquiring an additional 8,618 shares during the period. Private Advisor Group LLC grew its position in shares of Pinnacle West Capital by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock valued at $832,000 after acquiring an additional 203 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Pinnacle West Capital by 152,118.2% during the 3rd quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock valued at $22,925,000 after acquiring an additional 258,601 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 0.9 %

PNW opened at $91.62 on Friday. 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 company’s 50 day simple moving average is $86.26 and its two-hundred day simple moving average is $88.00. Pinnacle West Capital Co. has a 1-year low of $66.77 and a 1-year high of $95.42. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Jefferies Financial Group lowered their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price objective on 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. Finally, Wells Fargo & Company lifted their price objective on 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $85.21.

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.