Pinnacle West Capital Corporation $PNW Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 36.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,340 shares of the utilities provider’s stock after buying an additional 9,940 shares during the quarter. ProShare Advisors LLC’s holdings in Pinnacle West Capital were worth $3,348,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Caldwell Trust Co purchased a new stake in shares of Pinnacle West Capital during the second quarter worth about $27,000. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $27,000. Bayforest Capital Ltd acquired a new stake in Pinnacle West Capital in the 3rd quarter worth approximately $29,000. Quent Capital LLC purchased a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $30,000. Finally, MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the subject of a number of research analyst reports. UBS Group raised their price target on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Wells Fargo & Company cut their target price on Pinnacle West Capital from $92.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $103.00 price objective on shares of Pinnacle West Capital in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $96.42.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $99.43 on Friday. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $99.69. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.28. The stock has a market cap of $11.90 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 5.83 and a beta of 0.54. The business has a 50-day simple moving average of $90.88 and a 200-day simple moving average of $90.20.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio is currently 74.74%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.