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

Roble Belko & Company Inc bought a new stake in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 500 shares of the utilities provider’s stock, valued at approximately $42,000.

Other hedge funds have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in Pinnacle West Capital by 24.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock valued at $533,562,000 after buying an additional 1,379,368 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Pinnacle West Capital by 221.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock valued at $57,413,000 after acquiring 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% during the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after acquiring an additional 258,601 shares during the period. Yaupon Capital Management LP purchased a new position in Pinnacle West Capital during the third quarter worth about $22,173,000. Finally, Dimensional Fund Advisors LP raised its holdings in Pinnacle West Capital by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock worth $64,550,000 after purchasing an additional 200,816 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PNW shares. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Morgan Stanley dropped 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. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target 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. Finally, Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.65.

Pinnacle West Capital Stock Up 1.4 %

PNW stock opened at $84.39 on Thursday. 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 $88.28 and its 200-day simple moving average is $86.78. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42. The firm has a market capitalization of $9.60 billion, a PE ratio of 15.98, a P/E/G ratio of 2.10 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) 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.