Transcendent Capital Group LLC Purchases New Shares in Pinnacle West Capital Co. (NYSE:PNW)

Transcendent Capital Group LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 537 shares of the utilities provider’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth $29,000. Venturi Wealth Management LLC increased its stake in Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $38,000. Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth $43,000. Finally, Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $42,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.21.

Pinnacle West Capital Trading Up 0.7 %

Shares of PNW opened at $92.20 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a twelve month low of $66.77 and a twelve month high of $95.42. The firm has a market capitalization of $10.48 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The stock’s fifty day simple moving average is $86.39 and its 200 day simple moving average is $88.07.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 3.88%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.80%.

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.