19,789 Shares in Pinnacle West Capital Co. (NYSE:PNW) Bought by Duality Advisers LP

Duality Advisers LP bought a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,789 shares of the utilities provider’s stock, valued at approximately $1,422,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. MCF Advisors LLC raised its position in shares of Pinnacle West Capital by 9.2% in the 4th quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 174 shares during the last quarter. CWM LLC increased its position in shares of Pinnacle West Capital by 6.8% in the 4th quarter. CWM LLC now owns 9,945 shares of the utilities provider’s stock valued at $714,000 after acquiring an additional 629 shares during the period. abrdn plc raised its stake in Pinnacle West Capital by 120.0% in the 4th quarter. abrdn plc now owns 58,335 shares of the utilities provider’s stock worth $4,191,000 after acquiring an additional 31,821 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter worth about $79,000. Finally, HTLF Bank purchased a new stake in Pinnacle West Capital during the 4th quarter valued at about $216,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PNW shares. LADENBURG THALM/SH SH assumed coverage on Pinnacle West Capital in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $69.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, January 26th. Barclays increased their price objective on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Evercore ISI decreased their target price on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research report on Monday, March 4th. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and an average price target of $73.00.

Pinnacle West Capital Trading Down 0.3 %

PNW stock opened at $74.50 on Wednesday. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $86.03. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The firm has a market cap of $8.46 billion, a P/E ratio of 16.89, a PEG ratio of 2.09 and a beta of 0.49. The company’s 50-day simple moving average is $71.49 and its 200-day simple moving average is $72.11.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.52 dividend on an annualized basis and a yield of 4.72%. Pinnacle West Capital’s dividend payout ratio is currently 79.82%.

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.