Kepos Capital LP Sells 1,062 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Kepos Capital LP reduced its position in shares of Pinnacle West Capital Co. (NYSE:PNWFree Report) by 72.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 402 shares of the utilities provider’s stock after selling 1,062 shares during the period. Kepos Capital LP’s holdings in Pinnacle West Capital were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PNW. Pacific Center for Financial Services bought a new stake in Pinnacle West Capital in the 1st quarter valued at $40,000. International Assets Investment Management LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $44,000. Retirement Group LLC raised its stake in shares of Pinnacle West Capital by 200.0% in the 4th quarter. Retirement Group LLC now owns 600 shares of the utilities provider’s stock valued at $46,000 after buying an additional 400 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $52,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Pinnacle West Capital by 235.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 718 shares of the utilities provider’s stock valued at $56,000 after buying an additional 504 shares in the last quarter. 84.95% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Robert Edgar Smith sold 1,610 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $75.95, for a total transaction of $122,279.50. Following the transaction, the executive vice president now owns 9,178 shares of the company’s stock, valued at approximately $697,069.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday. Guggenheim upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Monday, January 22nd. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. StockNews.com cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, Mizuho dropped their target price on shares of Pinnacle West Capital from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.36.

Get Our Latest Stock Analysis on PNW

Pinnacle West Capital Trading Up 1.2 %

Shares of NYSE PNW traded up $0.84 during mid-day trading on Monday, hitting $68.89. The company’s stock had a trading volume of 1,322,960 shares, compared to its average volume of 1,531,981. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.50. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $86.03. The company’s fifty day simple moving average is $69.99 and its 200-day simple moving average is $73.15.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 1st were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 79.82%.

Pinnacle West Capital Company Profile

(Free Report)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

See Also

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

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