Bfsg LLC Lowers Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Bfsg LLC lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,510 shares of the utilities provider’s stock after selling 813 shares during the quarter. Bfsg LLC’s holdings in Pinnacle West Capital were worth $324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its holdings in shares of Pinnacle West Capital by 338.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after buying an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $26,000. Tobam boosted its holdings in Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. boosted its holdings in Pinnacle West Capital by 985.7% in the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 483 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in Pinnacle West Capital in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded up $0.04 during trading on Wednesday, hitting $74.54. 931,855 shares of the company were exchanged, compared to its average volume of 1,345,864. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 2.09 and a beta of 0.49. The firm has a 50 day moving average price of $71.49 and a 200 day moving average price of $72.11.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.72%. Pinnacle West Capital’s dividend payout ratio is currently 79.82%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PNW shares. Mizuho lowered their price objective on Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. LADENBURG THALM/SH SH began coverage on Pinnacle West Capital in a report on Wednesday, February 14th. They issued a “neutral” rating and a $69.00 price objective on the stock. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Guggenheim upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, January 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $73.00.

Pinnacle West Capital 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.