3,402 Shares in Pinnacle West Capital Co. (NYSE:PNW) Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI purchased a new stake in Pinnacle West Capital Co. (NYSE:PNW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,402 shares of the utilities provider’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNW. Magnetar Financial LLC increased its holdings in Pinnacle West Capital by 415.5% during the third quarter. Magnetar Financial LLC now owns 15,295 shares of the utilities provider’s stock worth $1,293,000 after buying an additional 12,328 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Pinnacle West Capital by 6.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 539,272 shares of the utilities provider’s stock worth $45,601,000 after buying an additional 32,194 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 buying an additional 52,287 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Pinnacle West Capital by 594.9% during the second quarter. Lord Abbett & CO. LLC now owns 405,100 shares of the utilities provider’s stock worth $34,498,000 after buying an additional 346,800 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Pinnacle West Capital by 3.8% in the third quarter. American Century Companies Inc. now owns 2,610,779 shares of the utilities provider’s stock worth $220,767,000 after purchasing an additional 94,914 shares in the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Shares of Pinnacle West Capital Co. (PNW) traded up $0.92 during trading on Thursday, reaching $77.01. 58,044 shares of the company’s stock were exchanged, compared to its average volume of 766,861. Pinnacle West Capital Co. has a fifty-two week low of $73.81 and a fifty-two week high of $92.48. The stock has a market cap of $8,583.08, a P/E ratio of 16.59, a P/E/G ratio of 5.49 and a beta of 0.27. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 60.04%.

A number of equities analysts have recently commented on PNW shares. Bank of America started coverage on shares of Pinnacle West Capital in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price objective for the company. Zacks Investment Research upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Thursday, October 26th. SunTrust Banks reiterated a “hold” rating and set a $88.00 target price on shares of Pinnacle West Capital in a research report on Monday, October 30th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $85.30.

In related news, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now owns 40,838 shares in the company, valued at approximately $3,637,440.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Donald E. Brandt sold 24,216 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the completion of the transaction, 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. Insiders own 0.70% of the company’s stock.

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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.

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

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