Mutual of America Capital Management LLC Lowers Position in Pinnacle West Capital Co. (NYSE:PNW)

Mutual of America Capital Management LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNW) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,171 shares of the utilities provider’s stock after selling 684 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pinnacle West Capital were worth $1,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its position in Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after buying an additional 274 shares during the last quarter. Tobam raised its position in Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 393 shares during the last quarter. Blue Trust Inc. raised its position in Pinnacle West Capital by 985.7% in the 4th quarter. Blue Trust Inc. now owns 532 shares of the utilities provider’s stock valued at $39,000 after buying an additional 483 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in Pinnacle West Capital in the 3rd quarter valued at $52,000. Finally, Addison Advisors LLC raised its position in Pinnacle West Capital by 16.6% in the 3rd quarter. Addison Advisors LLC now owns 1,014 shares of the utilities provider’s stock valued at $75,000 after buying an additional 144 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays increased their price target on Pinnacle West Capital from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. LADENBURG THALM/SH SH assumed coverage on Pinnacle West Capital in a research report on Wednesday, February 14th. They set a “neutral” rating and a $69.00 target price for the company. Royal Bank of Canada decreased their target price on Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. UBS Group raised Pinnacle West Capital from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $71.00 in a research report on Monday, March 11th. Finally, Bank of America raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the company from $71.00 to $80.00 in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $73.00.

Pinnacle West Capital Trading Up 0.4 %

Shares of PNW opened at $74.70 on Tuesday. The business has a 50-day moving average of $71.34 and a 200 day moving average of $72.09. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The firm has a market cap of $8.48 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.71%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio (DPR) 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.