MQS Management LLC Takes $640,000 Position in Pinnacle West Capital Corporation $PNW

MQS Management LLC purchased a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the third quarter, Holdings Channel.com reports. The firm purchased 7,139 shares of the utilities provider’s stock, valued at approximately $640,000.

A number of other institutional investors have also recently bought and sold shares of the company. Caldwell Trust Co purchased a new position in Pinnacle West Capital in the second quarter valued at about $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at about $27,000. Bayforest Capital Ltd acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $29,000. Quent Capital LLC bought a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at approximately $30,000. Finally, Ameritas Advisory Services LLC acquired a new position in Pinnacle West Capital in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $95.20 on Wednesday. The company has a market capitalization of $11.39 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 5.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $96.50. The company’s fifty day moving average price is $90.32 and its 200 day moving average price is $90.04.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be paid a $0.91 dividend. The ex-dividend date is Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.8%. Pinnacle West Capital’s payout ratio is presently 74.74%.

Wall Street Analysts Forecast Growth

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

Pinnacle West Capital 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.