2,360 Shares in Pinnacle West Capital Corporation $PNW Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC acquired a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,360 shares of the utilities provider’s stock, valued at approximately $211,000.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in shares of Pinnacle West Capital by 1.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock worth $881,000 after purchasing an additional 122 shares during the period. Allworth Financial LP boosted its position in Pinnacle West Capital by 19.1% during the 1st quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 125 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Pinnacle West Capital by 4.9% during the 1st quarter. AE Wealth Management LLC now owns 2,929 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 137 shares during the period. IFP Advisors Inc grew its holdings in shares of Pinnacle West Capital by 4.0% during the 1st quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 156 shares during the period. Finally, Probity Advisors Inc. raised its position in shares of Pinnacle West Capital by 2.6% in the 1st quarter. Probity Advisors Inc. now owns 6,214 shares of the utilities provider’s stock worth $592,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

PNW has been the topic of several research reports. BMO Capital Markets lifted their price target on Pinnacle West Capital from $96.00 to $98.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Argus dropped their price objective on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Barclays upped their price objective on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday. KeyCorp dropped their price target on Pinnacle West Capital from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Finally, Mizuho lowered Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $90.00 in a research report on Tuesday, September 9th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average price target of $96.64.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $92.37, for a total value of $600,035.52. Following the completion of the sale, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. The trade was a 99.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Up 0.8%

Pinnacle West Capital stock opened at $92.32 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 9.46 and a beta of 0.46. The stock has a fifty day simple moving average of $89.66 and a two-hundred day simple moving average of $90.80.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.58. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 EPS. Equities analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

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.