Captrust Financial Advisors Has $64.85 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Captrust Financial Advisors lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 732,031 shares of the utilities provider’s stock after purchasing an additional 11,208 shares during the quarter. Captrust Financial Advisors owned 0.64% of Pinnacle West Capital worth $64,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNW. First Horizon Advisors Inc. lifted its holdings in Pinnacle West Capital by 20.9% in the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after buying an additional 137 shares during the period. GAMMA Investing LLC raised its position in shares of Pinnacle West Capital by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 138 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Pinnacle West Capital by 2.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 163 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Pinnacle West Capital by 2.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 169 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Pinnacle West Capital by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after purchasing an additional 199 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PNW shares. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $81.88.

Pinnacle West Capital Stock Up 0.8 %

PNW stock opened at $94.52 on Friday. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $95.42. The stock has a fifty day moving average of $89.31 and a 200-day moving average of $84.38. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.24 and a beta of 0.52. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.895 dividend. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 annualized dividend and a dividend yield of 3.79%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

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.