Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,831 shares of the utilities provider’s stock after purchasing an additional 1,252 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Pinnacle West Capital were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners increased its holdings in shares of Pinnacle West Capital by 24.3% during the fourth quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after purchasing an additional 687,119 shares during the period. American Century Companies Inc. increased its holdings in shares of Pinnacle West Capital by 2.5% during 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. Bank of New York Mellon Corp increased its holdings in shares of Pinnacle West Capital by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 1,213,084 shares of the utilities provider’s stock worth $102,581,000 after purchasing an additional 3,491 shares during the period. Legal & General Group Plc increased its holdings in shares of Pinnacle West Capital by 5.7% during the third quarter. Legal & General Group Plc now owns 976,307 shares of the utilities provider’s stock worth $82,555,000 after purchasing an additional 52,287 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Pinnacle West Capital by 7.8% during the third quarter. First Trust Advisors LP now owns 873,303 shares of the utilities provider’s stock worth $73,847,000 after purchasing an additional 62,896 shares during the period. 82.54% of the stock is currently owned by institutional investors.

In other Pinnacle West Capital news, EVP David P. Falck sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now owns 40,838 shares in the company, valued at $3,637,440.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald E. Brandt sold 24,216 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the completion of the sale, 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.

Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $76.73 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8,523.87, a P/E ratio of 16.48, a P/E/G ratio of 5.45 and a beta of 0.27. 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. Investors of record on Thursday, February 1st will be given 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 3.62%. Pinnacle West Capital’s dividend payout ratio is 60.04%.

Several brokerages have recently commented on PNW. SunTrust Banks reaffirmed a “hold” rating and set a $91.00 target price on shares of Pinnacle West Capital in a report on Friday, November 24th. Morgan Stanley increased their price target on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 13th. Bank of America began coverage on shares of Pinnacle West Capital in a research report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price target on the stock. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $85.90.

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Pinnacle West Capital Profile

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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