Ellsworth Advisors LLC Purchases 1,820 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Ellsworth Advisors LLC grew its position in Pinnacle West Capital Co. (NYSE:PNW) by 9.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,731 shares of the utilities provider’s stock after acquiring an additional 1,820 shares during the quarter. Ellsworth Advisors LLC’s holdings in Pinnacle West Capital were worth $1,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Pinnacle West Capital by 24.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock valued at $533,562,000 after acquiring an additional 1,379,368 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after purchasing an additional 466,736 shares in the last quarter. International Assets Investment Management LLC grew its stake in Pinnacle West Capital by 152,118.2% during the 3rd quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after buying an additional 258,601 shares during the last quarter. Yaupon Capital Management LP acquired a new position in Pinnacle West Capital during the 3rd quarter valued at about $22,173,000. Finally, Dimensional Fund Advisors LP raised its stake in Pinnacle West Capital by 31.2% in the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock valued at $64,550,000 after buying an additional 200,816 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.4 %

Pinnacle West Capital stock opened at $86.75 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a market cap of $9.86 billion, a PE ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56. The stock’s 50 day simple moving average is $88.12 and its two-hundred day simple moving average is $87.01. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.13%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.80%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PNW. Morgan Stanley dropped 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 note on Friday, November 22nd. Citigroup upped 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 note on Wednesday, December 4th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.