Sonora Investment Management Group LLC Boosts Position in Pinnacle West Capital Co. (NYSE:PNW)

Sonora Investment Management Group LLC increased its position in Pinnacle West Capital Co. (NYSE:PNW) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,777 shares of the utilities provider’s stock after purchasing an additional 3,533 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Pinnacle West Capital were worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $409,000. Pacer Advisors Inc. boosted its stake in shares of Pinnacle West Capital by 263.2% during the fourth quarter. Pacer Advisors Inc. now owns 30,783 shares of the utilities provider’s stock valued at $2,609,000 after purchasing an additional 22,308 shares in the last quarter. KBC Group NV raised its stake in Pinnacle West Capital by 48.4% in the fourth quarter. KBC Group NV now owns 4,402 shares of the utilities provider’s stock worth $373,000 after buying an additional 1,435 shares in the last quarter. Blue Trust Inc. lifted its holdings in Pinnacle West Capital by 33.3% during the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider’s stock worth $128,000 after buying an additional 360 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Pinnacle West Capital by 2.8% in the 4th quarter. Fifth Third Bancorp now owns 6,100 shares of the utilities provider’s stock valued at $517,000 after acquiring an additional 165 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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 note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Finally, Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital Trading Up 1.4 %

PNW stock opened at $87.15 on Friday. The business’s 50-day moving average is $87.34 and its 200 day moving average is $87.44. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $95.42. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.40 and a beta of 0.56. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

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.