Pinnacle West Capital Co. (PNW) Holdings Increased by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,448 shares of the utilities provider’s stock after purchasing an additional 1,764 shares during the period. California Public Employees Retirement System’s holdings in Pinnacle West Capital were worth $29,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Icon Advisers Inc. Co. increased its stake in Pinnacle West Capital by 21.2% in the fourth quarter. Icon Advisers Inc. Co. now owns 18,900 shares of the utilities provider’s stock worth $1,610,000 after purchasing an additional 3,300 shares during the period. ING Groep NV increased its stake in Pinnacle West Capital by 10.1% in the fourth quarter. ING Groep NV now owns 10,623 shares of the utilities provider’s stock worth $905,000 after purchasing an additional 976 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Pinnacle West Capital by 7.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,831 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 1,252 shares during the period. American Century Companies Inc. increased its stake in Pinnacle West Capital by 2.5% in the fourth quarter. American Century Companies Inc. now owns 2,674,862 shares of the utilities provider’s stock worth $227,845,000 after purchasing an additional 64,083 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Pinnacle West Capital by 3.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 21,440 shares of the utilities provider’s stock worth $1,826,000 after purchasing an additional 708 shares during the period. Institutional investors and hedge funds own 82.54% of the company’s stock.

In other news, EVP David P. Falck sold 4,500 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total transaction of $400,815.00. Following the transaction, the executive vice president now owns 40,838 shares in the company, valued at $3,637,440.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Donald E. Brandt sold 24,216 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $79.21, for a total value of $1,918,149.36. Following the transaction, the chairman now owns 94,358 shares in the company, valued at approximately $7,474,097.18. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Pinnacle West Capital Co. (PNW) opened at $78.69 on Friday. The company has a market capitalization of $8,721.63, a price-to-earnings ratio of 17.00, a PEG ratio of 5.57 and a beta of 0.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90. Pinnacle West Capital Co. has a 52 week low of $73.81 and a 52 week high of $92.48.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be paid a dividend of $0.695 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.78 annualized dividend and a dividend yield of 3.53%. Pinnacle West Capital’s dividend payout ratio is currently 60.04%.

A number of analysts have weighed in on the company. Morgan Stanley upgraded Pinnacle West Capital from an “underweight” rating to an “equal weight” rating and set a $85.00 target price on the stock in a research note on Tuesday, February 13th. SunTrust Banks set a $82.00 target price on Pinnacle West Capital and gave the stock a “hold” rating in a research note on Monday, February 5th. UBS Group assumed coverage on Pinnacle West Capital in a research note on Friday, February 2nd. They issued a “neutral” rating and a $81.00 target price on the stock. Royal Bank of Canada reiterated a “neutral” rating on shares of Pinnacle West Capital in a research note on Thursday, February 1st. Finally, Williams Capital restated a “hold” rating and set a $84.00 price target (down previously from $87.00) on shares of Pinnacle West Capital in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $85.30.

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About Pinnacle West Capital

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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