Pinnacle West Capital Co. (NYSE:PNW) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,717 shares of the utilities provider’s stock after purchasing an additional 124 shares during the quarter. Fortem Financial Group LLC’s holdings in Pinnacle West Capital were worth $485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PNW. CWA Asset Management Group LLC grew its position in Pinnacle West Capital by 17.3% in 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 acquiring an additional 2,284 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter valued at $234,000. GAMMA Investing LLC increased its stake in Pinnacle West Capital by 31.9% during the 4th quarter. GAMMA Investing LLC now owns 1,513 shares of the utilities provider’s stock worth $128,000 after buying an additional 366 shares during the period. Principal Financial Group Inc. lifted its holdings in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock worth $12,336,000 after buying an additional 9,993 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Pinnacle West Capital by 3.1% in the 3rd quarter. Synovus Financial Corp now owns 7,585 shares of the utilities provider’s stock valued at $672,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW traded down $1.02 during trading hours on Monday, hitting $83.23. The stock had a trading volume of 687,348 shares, compared to its average volume of 741,485. The stock’s fifty day simple moving average is $88.97 and its 200 day simple moving average is $86.35. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.10 and a beta of 0.54. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 1-year low of $65.20 and a 1-year high of $95.42.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Analyst Ratings Changes

Several research analysts recently commented on PNW shares. Wells Fargo & Company boosted their price target on 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. Morgan Stanley cut their target price 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, November 22nd. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.65.

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.