Ellsworth Advisors LLC Buys 1,820 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Ellsworth Advisors LLC lifted its position in Pinnacle West Capital Co. (NYSE:PNW) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,731 shares of the utilities provider’s stock after purchasing an additional 1,820 shares during the quarter. Ellsworth Advisors LLC’s holdings in Pinnacle West Capital were worth $1,757,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in Pinnacle West Capital by 24.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock worth $533,562,000 after purchasing an additional 1,379,368 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Pinnacle West Capital by 221.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 677,274 shares of the utilities provider’s stock worth $57,413,000 after buying an additional 466,736 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Pinnacle West Capital by 152,118.2% in the 3rd quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after buying an additional 258,601 shares during the last quarter. Yaupon Capital Management LP bought a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $22,173,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Pinnacle West Capital by 31.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock valued at $64,550,000 after buying an additional 200,816 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PNW shares. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price 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. Morgan Stanley lowered their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Finally, Citigroup increased their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Eight investment 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 an average rating of “Hold” and an average price target of $84.65.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $86.75 on Monday. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $95.42. The company has a market capitalization of $9.86 billion, a PE ratio of 16.43, a P/E/G ratio of 3.24 and a beta of 0.56. The company has a 50 day moving average price of $88.12 and a 200-day moving average price of $87.01. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is 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.