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

Keystone Financial Planning Inc. cut its stake in Pinnacle West Capital Co. (NYSE:PNW) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 82,587 shares of the utilities provider’s stock after selling 154 shares during the period. Pinnacle West Capital accounts for approximately 2.2% of Keystone Financial Planning Inc.’s portfolio, making the stock its 11th largest position. Keystone Financial Planning Inc.’s holdings in Pinnacle West Capital were worth $7,001,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Czech National Bank boosted its position in shares of Pinnacle West Capital by 6.6% in the fourth quarter. Czech National Bank now owns 24,656 shares of the utilities provider’s stock worth $2,090,000 after acquiring an additional 1,523 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Pinnacle West Capital by 19.0% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,145 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 183 shares during the last quarter. Fortitude Family Office LLC lifted its position in Pinnacle West Capital by 140.7% during the fourth quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock valued at $250,000 after buying an additional 1,722 shares in the last quarter. Fortem Financial Group LLC lifted its position in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after buying an additional 124 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in Pinnacle West Capital by 17.3% during the fourth quarter. CWA Asset Management Group LLC now owns 15,467 shares of the utilities provider’s stock valued at $1,311,000 after buying an additional 2,284 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PNW shares. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group started 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 target on the stock. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley dropped 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 research note on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Eight equities research 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, Pinnacle West Capital currently has a consensus rating of “Hold” and an average target price of $84.65.

Pinnacle West Capital Stock Up 1.3 %

Shares of NYSE:PNW traded up $1.07 during midday trading on Monday, reaching $82.83. The company had a trading volume of 566,596 shares, compared to its average volume of 993,114. 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 stock’s fifty day moving average price is $88.52 and its 200-day moving average price is $86.70. The stock has a market capitalization of $9.42 billion, a P/E ratio of 15.69, a PEG ratio of 2.10 and a beta of 0.56. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $95.42.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is presently 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.