Crewe Advisors LLC Purchases 310 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Crewe Advisors LLC boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 39.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,100 shares of the utilities provider’s stock after acquiring an additional 310 shares during the quarter. Crewe Advisors LLC’s holdings in Pinnacle West Capital were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PNW. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of 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 purchasing an additional 1,379,368 shares during the period. Zimmer Partners LP purchased a new position in shares of Pinnacle West Capital in the 1st quarter worth $198,409,000. Bank of New York Mellon Corp lifted its position in Pinnacle West Capital by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 1,159,942 shares of the utilities provider’s stock valued at $88,596,000 after purchasing an additional 44,029 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock valued at $91,078,000 after acquiring an additional 5,066 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in shares of Pinnacle West Capital by 2.0% in the third quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider’s stock valued at $86,230,000 after acquiring an additional 18,673 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $92.93 on Monday. The stock has a market capitalization of $10.57 billion, a PE ratio of 17.60, a P/E/G ratio of 2.19 and a beta of 0.52. The firm has a 50 day moving average of $89.01 and a two-hundred day moving average of $83.96. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $94.38. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.895 dividend. The ex-dividend date is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 dividend on an annualized basis and a yield of 3.85%. Pinnacle West Capital’s payout ratio is 67.80%.

Analysts Set New Price Targets

PNW has been the topic of several research reports. Wells Fargo & Company lifted their target price 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. Morgan Stanley reduced their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 target price on the stock. Finally, Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and a consensus price target of $81.88.

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.