IFP Advisors Inc Has $162,000 Stake in Pinnacle West Capital Co. (PNW)

IFP Advisors Inc lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 27.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,903 shares of the utilities provider’s stock after selling 727 shares during the period. IFP Advisors Inc’s holdings in Pinnacle West Capital were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banced Corp bought a new stake in Pinnacle West Capital in the 4th quarter valued at $201,000. Stock Yards Bank & Trust Co. bought a new stake in Pinnacle West Capital in the 3rd quarter valued at $205,000. Krilogy Financial LLC bought a new stake in Pinnacle West Capital in the 3rd quarter valued at $211,000. Quantitative Systematic Strategies LLC bought a new stake in Pinnacle West Capital in the 3rd quarter valued at $214,000. Finally, Highbridge Capital Management LLC bought a new stake in Pinnacle West Capital in the 3rd quarter valued at $305,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Pinnacle West Capital Co. (NYSE:PNW) opened at $74.34 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Co. has a 1-year low of $73.81 and a 1-year high of $92.48. The company has a market capitalization of $8,397.61, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 5.37 and a beta of 0.27.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio is 60.04%.

In other Pinnacle West Capital news, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at approximately $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 company’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 completion of the transaction, the chairman now directly owns 94,358 shares in the company, valued at $7,474,097.18. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

A number of research firms recently weighed in on PNW. SunTrust Banks set a $82.00 price target on Pinnacle West Capital and gave the company a “hold” rating in a research note on Monday. UBS Group began coverage on Pinnacle West Capital in a research note on Friday, February 2nd. They issued a “neutral” rating and a $81.00 price target on the stock. Royal Bank of Canada restated a “neutral” rating on shares of Pinnacle West Capital in a research note on Thursday, February 1st. Williams Capital restated a “hold” rating and issued a $84.00 price target (down previously from $87.00) on shares of Pinnacle West Capital in a research note on Monday, January 29th. Finally, Zacks Investment Research cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $86.00.

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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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