3,308 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Howard Capital Management Inc.

Howard Capital Management Inc. bought a new position in Pinnacle West Capital Co. (NYSE:PNW) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,308 shares of the utilities provider’s stock, valued at approximately $280,000.

A number of other hedge funds also recently bought and sold shares of PNW. YANKCOM Partnership bought a new stake in Pinnacle West Capital in the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC lifted its position 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 worth $38,000 after buying an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in Pinnacle West Capital in the 4th quarter worth approximately $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital in the 4th quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC bought a new stake in Pinnacle West Capital in the 3rd quarter worth approximately $43,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PNW shares. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Citigroup boosted their price objective 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. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.21.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $93.11 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a market cap of $10.59 billion, a PE ratio of 17.64, a P/E/G ratio of 3.59 and a beta of 0.57. The business has a 50 day moving average of $86.39 and a 200 day moving average of $88.07. Pinnacle West Capital Co. has a 52 week low of $66.77 and a 52 week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The company 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 annualized dividend and a yield of 3.84%. Pinnacle West Capital’s payout ratio is 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.