Hennion & Walsh Asset Management Inc. Sells 563 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Hennion & Walsh Asset Management Inc. cut its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,732 shares of the utilities provider’s stock after selling 563 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Pinnacle West Capital were worth $2,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of Pinnacle West Capital by 124.6% during the third 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 during the period. Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital during the third quarter valued at approximately $43,000. Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $42,000. Kennebec Savings Bank bought a new stake in shares of Pinnacle West Capital during the third quarter valued at approximately $64,000. Finally, Blue Trust Inc. increased its position in shares of Pinnacle West Capital by 193.5% during the third quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 712 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Citigroup upped their price target 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. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company upped their price target on 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. Finally, KeyCorp upgraded 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. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.65.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $86.75 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market cap of $9.86 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56. The business’s fifty day moving average is $88.12 and its two-hundred day moving average is $86.85. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $95.42.

Pinnacle West Capital Dividend Announcement

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 issued a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.13%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend 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.