Pinnacle West Capital Co. (NYSE:PNW) Short Interest Up 16.9% in January

Pinnacle West Capital Co. (NYSE:PNW) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 3,530,000 shares, an increase of 16.9% from the January 15th total of 3,020,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is presently 3.0 days.

Pinnacle West Capital Stock Up 0.0 %

Shares of NYSE:PNW traded up $0.02 during midday trading on Monday, reaching $89.37. The company had a trading volume of 1,003,110 shares, compared to its average volume of 986,817. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The stock’s fifty day moving average price is $86.14 and its 200-day moving average price is $87.88. The stock has a market capitalization of $10.16 billion, a P/E ratio of 16.93, a PEG ratio of 3.47 and a beta of 0.57. Pinnacle West Capital has a one year low of $66.77 and a one year high of $95.42.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of 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. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $85.21.

Institutional Trading of Pinnacle West Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Pinnacle West Capital by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock worth $1,202,116,000 after buying an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock worth $581,945,000 after buying an additional 37,768 shares during the last quarter. State Street Corp increased its stake in shares of Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after buying an additional 56,644 shares during the last quarter. Invesco Ltd. increased its stake in Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the last quarter. Finally, Zimmer Partners LP increased its stake in Pinnacle West Capital by 5.7% during the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company 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.