341 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by YANKCOM Partnership

YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 341 shares of the utilities provider’s stock, valued at approximately $29,000.

Several other large investors have also recently made changes to their positions in PNW. Assenagon Asset Management S.A. increased its position in shares of Pinnacle West Capital by 221.7% during the fourth 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. Jennison Associates LLC purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth approximately $32,078,000. International Assets Investment Management LLC increased its position in shares of Pinnacle West Capital by 152,118.2% during the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after purchasing an additional 258,601 shares in the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Pinnacle West Capital during the third quarter worth approximately $22,173,000. Finally, Zimmer Partners LP increased its position in shares of Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after purchasing an additional 155,466 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNW has been the topic of a number of recent research reports. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective 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. Jefferies Financial Group lowered their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $87.77 on Friday. The stock has a market cap of $9.98 billion, a PE ratio of 16.62, a P/E/G ratio of 3.44 and a beta of 0.57. 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 Co. has a twelve month low of $65.20 and a twelve month high of $95.42. The stock has a fifty day simple moving average of $86.72 and a 200-day simple moving average of $87.64.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 yield of 4.08%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) 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.