Pinnacle West Capital Corporation (PNW) Stake Maintained by Monroe Bank & Trust MI

Monroe Bank & Trust MI held its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,990 shares of the company’s stock at the end of the third quarter. Monroe Bank & Trust MI’s holdings in Pinnacle West Capital Corporation were worth $228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNW. Mizuho Asset Management Co. Ltd. boosted its position in shares of Pinnacle West Capital Corporation by 9.6% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 1,466 shares of the company’s stock valued at $111,000 after buying an additional 128 shares during the last quarter. Global X Management Co. LLC boosted its position in Pinnacle West Capital Corporation by 99.1% in the third quarter. Global X Management Co. LLC now owns 2,391 shares of the company’s stock worth $182,000 after buying an additional 1,190 shares during the last quarter. Toronto Dominion Bank boosted its position in Pinnacle West Capital Corporation by 432.1% in the third quarter. Toronto Dominion Bank now owns 3,246 shares of the company’s stock worth $247,000 after buying an additional 2,636 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Pinnacle West Capital Corporation by 179.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company’s stock worth $258,000 after buying an additional 2,180 shares during the last quarter. Finally, BB&T Securities LLC bought a new position in Pinnacle West Capital Corporation during the third quarter worth approximately $261,000. 82.61% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Pinnacle West Capital Corporation (NYSE:PNW) traded down 0.10% during trading on Monday, reaching $78.59. 77,748 shares of the company’s stock traded hands. The company has a 50 day moving average price of $77.60 and a 200 day moving average price of $76.20. Pinnacle West Capital Corporation has a 1-year low of $66.22 and a 1-year high of $82.78. The stock has a market capitalization of $8.75 billion, a PE ratio of 20.45 and a beta of 0.29.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 1st will be issued a $0.655 dividend. This is a positive change from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, January 30th. This represents a $2.62 annualized dividend and a dividend yield of 3.33%. Pinnacle West Capital Corporation’s dividend payout ratio is 68.23%.

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Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Pinnacle West Capital Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, December 22nd. Goldman Sachs Group, Inc. (The) raised shares of Pinnacle West Capital Corporation from a “sell” rating to a “neutral” rating and increased their price target for the stock from $71.00 to $74.00 in a research report on Tuesday, January 17th. Finally, Bank of America Corporation raised shares of Pinnacle West Capital Corporation from an “underperform” rating to a “neutral” rating in a research report on Tuesday, November 22nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $75.63.

In other news, Director Michael L. Gallagher sold 5,000 shares of the company’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $73.41, for a total value of $367,050.00. Following the completion of the sale, the director now owns 19,798 shares in the company, valued at $1,453,371.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David P. Falck sold 5,331 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $76.68, for a total value of $408,781.08. Following the completion of the sale, the executive vice president now owns 41,798 shares of the company’s stock, valued at approximately $3,205,070.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,066 shares of company stock valued at $6,991,972. Insiders own 0.70% of the company’s stock.

About Pinnacle West Capital Corporation

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

5 Day Chart for NYSE:PNW

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