Signaturefd LLC Sells 363 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Signaturefd LLC decreased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,033 shares of the utilities provider’s stock after selling 363 shares during the quarter. Signaturefd LLC’s holdings in Pinnacle West Capital were worth $74,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its position in shares of Pinnacle West Capital by 338.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Pinnacle West Capital in the fourth quarter valued at about $26,000. Tobam increased its holdings in Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 393 shares during the last quarter. Blue Trust Inc. increased its holdings in Pinnacle West Capital by 985.7% in the fourth quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 483 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Pinnacle West Capital in the third quarter valued at about $52,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 1.8 %

NYSE:PNW opened at $74.95 on Thursday. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $86.03. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.11 and a beta of 0.49. The stock has a 50-day moving average price of $72.21 and a two-hundred day moving average price of $72.11.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.70%. Pinnacle West Capital’s dividend payout ratio is currently 79.82%.

Analysts Set New Price Targets

PNW has been the subject of a number of recent analyst reports. StockNews.com downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. UBS Group upgraded Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $71.00 in a report on Monday, March 11th. Bank of America upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $71.00 to $80.00 in a report on Monday, March 18th. Guggenheim upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Monday, January 22nd. Finally, Evercore ISI dropped their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.42.

About Pinnacle West Capital

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.