Cadence Capital Management LLC lessened its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 14.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,745 shares of the utilities provider’s stock after selling 975 shares during the quarter. Cadence Capital Management LLC’s holdings in Pinnacle West Capital were worth $489,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Boston Partners grew its stake in Pinnacle West Capital by 24.3% during the 4th quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after buying an additional 687,119 shares during the last quarter. American Century Companies Inc. grew its stake in Pinnacle West Capital by 2.5% during the 4th quarter. American Century Companies Inc. now owns 2,674,862 shares of the utilities provider’s stock worth $227,845,000 after buying an additional 64,083 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Pinnacle West Capital by 0.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,084 shares of the utilities provider’s stock worth $102,581,000 after buying an additional 3,491 shares during the last quarter. Legal & General Group Plc grew its stake in Pinnacle West Capital by 5.7% during the 3rd quarter. Legal & General Group Plc now owns 976,307 shares of the utilities provider’s stock worth $82,555,000 after buying an additional 52,287 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Pinnacle West Capital by 7.8% during the 3rd quarter. First Trust Advisors LP now owns 873,303 shares of the utilities provider’s stock worth $73,847,000 after buying an additional 62,896 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $76.09 on Thursday. Pinnacle West Capital Co. has a 1 year low of $73.81 and a 1 year high of $92.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90. The firm has a market capitalization of $8,573.03, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 5.48 and a beta of 0.27.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be given a dividend of $0.695 per share. The ex-dividend date is Wednesday, January 31st. This represents a $2.78 dividend on an annualized basis and a yield of 3.65%. Pinnacle West Capital’s payout ratio is 60.04%.

A number of research analysts recently issued reports on PNW shares. Zacks Investment Research downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Bank of America downgraded Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price target on the stock. in a research note on Wednesday, January 3rd. Morgan Stanley raised their price target on Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $88.00 price objective on shares of Pinnacle West Capital in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.30.

In other Pinnacle West Capital news, Chairman Donald E. Brandt sold 24,216 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the completion of the sale, the chairman now directly owns 94,358 shares of the company’s stock, valued at approximately $7,474,097.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David P. Falck sold 4,500 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at $3,637,440.66. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

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Pinnacle West Capital Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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