Pinnacle West Capital Corporation (PNW) Shares Bought by Advisor Partners LLC

Advisor Partners LLC raised its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,554 shares of the utilities provider’s stock after buying an additional 217 shares during the period. Advisor Partners LLC’s holdings in Pinnacle West Capital Corporation were worth $388,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tompkins Financial Corp raised its stake in shares of Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new stake in shares of Pinnacle West Capital Corporation during the first quarter valued at approximately $1,854,000. Lazard Asset Management LLC raised its stake in shares of Pinnacle West Capital Corporation by 0.3% in the first quarter. Lazard Asset Management LLC now owns 151,331 shares of the utilities provider’s stock valued at $12,617,000 after buying an additional 385 shares during the last quarter. BlackRock Inc. raised its stake in shares of Pinnacle West Capital Corporation by 3,579.0% in the first quarter. BlackRock Inc. now owns 10,792,256 shares of the utilities provider’s stock valued at $899,860,000 after buying an additional 10,498,905 shares during the last quarter. Finally, FDO Partners LLC acquired a new stake in shares of Pinnacle West Capital Corporation during the first quarter valued at approximately $327,000. Institutional investors own 83.02% of the company’s stock.

Pinnacle West Capital Corporation (NYSE PNW) opened at 88.32 on Thursday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 21.45 and a beta of 0.37. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $89.56. The firm has a 50-day moving average price of $86.46 and a 200 day moving average price of $84.19.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.33. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The company had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. During the same quarter in the previous year, the business earned $1.08 EPS. Pinnacle West Capital Corporation’s revenue was up 3.2% compared to the same quarter last year. Equities analysts expect that Pinnacle West Capital Corporation will post $4.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.97%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is 57.96%.

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Several equities research analysts recently commented on PNW shares. BMO Capital Markets restated a “hold” rating and set a $86.00 target price on shares of Pinnacle West Capital Corporation in a research report on Wednesday, May 17th. Zacks Investment Research lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Morgan Stanley cut their target price on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research report on Monday, May 8th. Royal Bank Of Canada restated a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. Finally, BidaskClub upgraded Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Pinnacle West Capital Corporation currently has an average rating of “Hold” and an average price target of $81.78.

In other Pinnacle West Capital Corporation news, SVP Barbara M. Gomez sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $84.00, for a total transaction of $159,600.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Daniel T. Froetscher sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $87.31, for a total value of $244,468.00. Following the transaction, the senior vice president now owns 8,568 shares in the company, valued at approximately $748,072.08. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Corporation Company 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.

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

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