Cambiar Investors LLC Reduces Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Cambiar Investors LLC decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 10.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 141,581 shares of the utilities provider’s stock after selling 17,233 shares during the period. Cambiar Investors LLC owned approximately 0.12% of Pinnacle West Capital worth $12,002,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Empowered Funds LLC purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $346,000. Apollon Wealth Management LLC boosted its position in Pinnacle West Capital by 3.3% in the fourth quarter. Apollon Wealth Management LLC now owns 8,085 shares of the utilities provider’s stock valued at $685,000 after buying an additional 259 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Pinnacle West Capital by 2.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,412 shares of the utilities provider’s stock valued at $1,391,000 after buying an additional 327 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Pinnacle West Capital by 14.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after buying an additional 545 shares during the last quarter. Finally, YANKCOM Partnership purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PNW. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research report on Wednesday, December 4th. Morgan Stanley lowered their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital Stock Up 0.9 %

NYSE PNW opened at $87.74 on Tuesday. The business has a fifty day moving average price of $86.44 and a 200 day moving average price of $87.74. Pinnacle West Capital Co. has a one year low of $66.26 and a one year high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company has a market cap of $9.98 billion, a P/E ratio of 16.62, a P/E/G ratio of 3.47 and a beta of 0.57.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Pinnacle West Capital 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.