Transcendent Capital Group LLC Buys New Position in Pinnacle West Capital Co. (NYSE:PNW)

Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 537 shares of the utilities provider’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Venturi Wealth Management LLC lifted its holdings in Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after buying an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $38,000. Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital in the third quarter worth about $43,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the topic of a number of recent research reports. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Morgan Stanley cut their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company upped 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. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Jefferies Financial Group dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Stock Up 0.7 %

PNW stock opened at $92.20 on Tuesday. 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 company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. Pinnacle West Capital Co. has a 52 week low of $66.77 and a 52 week high of $95.42. The firm’s 50-day moving average is $86.39 and its two-hundred day moving average is $88.07.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

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.