Pinnacle West Capital Co. (NYSE:PNW) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,028,088 shares of the utilities provider’s stock after buying an additional 5,066 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Pinnacle West Capital were worth $91,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PNW. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Pinnacle West Capital by 24.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock worth $533,562,000 after acquiring an additional 1,379,368 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Pinnacle West Capital by 152,118.2% during the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock worth $22,925,000 after purchasing an additional 258,601 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Pinnacle West Capital during the third quarter worth approximately $18,652,000. Dimensional Fund Advisors LP lifted 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 worth $64,550,000 after buying an additional 200,816 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Pinnacle West Capital in the 2nd quarter valued at $15,249,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PNW. Morgan Stanley decreased their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $81.88.

Pinnacle West Capital Stock Up 1.0 %

Shares of Pinnacle West Capital stock opened at $93.80 on Wednesday. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $94.38. The company has a market cap of $10.67 billion, a P/E ratio of 17.59, a PEG ratio of 2.26 and a beta of 0.52. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a fifty day moving average of $89.04 and a two-hundred day moving average of $84.12.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.895 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital’s dividend payout ratio is currently 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.