Krilogy Financial LLC Purchases New Stake in Pinnacle West Capital Co. (PNW)

Krilogy Financial LLC purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,500 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Pinnacle West Capital by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,774,150 shares of the utilities provider’s stock worth $1,002,686,000 after acquiring an additional 496,727 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Pinnacle West Capital by 27.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,351,968 shares of the utilities provider’s stock worth $285,454,000 after buying an additional 716,993 shares during the last quarter. Boston Partners grew its position in shares of Pinnacle West Capital by 37.6% in the 3rd quarter. Boston Partners now owns 2,824,466 shares of the utilities provider’s stock worth $238,837,000 after buying an additional 771,900 shares during the last quarter. American Century Companies Inc. grew its position in shares of Pinnacle West Capital by 3.8% in the 3rd quarter. American Century Companies Inc. now owns 2,610,779 shares of the utilities provider’s stock worth $220,767,000 after buying an additional 94,914 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Pinnacle West Capital by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock worth $167,166,000 after buying an additional 5,092 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

PNW has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Thursday, October 26th. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. BidaskClub upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. KeyCorp reiterated a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $86.70.

In other news, Director Michael L. Gallagher sold 2,012 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total value of $179,812.44. Following the completion of the transaction, the director now owns 12,786 shares in the company, valued at approximately $1,142,684.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald E. Brandt sold 18,153 shares of Pinnacle West Capital stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $89.54, for a total value of $1,625,419.62. Following the transaction, the chief executive officer now owns 118,574 shares of the company’s stock, valued at approximately $10,617,115.96. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Pinnacle West Capital Co. (NYSE:PNW) traded up $0.60 on Monday, hitting $90.75. The stock had a trading volume of 413,200 shares, compared to its average volume of 674,562. The stock has a market cap of $10,139.48, a PE ratio of 19.60, a PEG ratio of 6.57 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Co. has a 52 week low of $74.46 and a 52 week high of $92.48.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.13. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 EPS. sell-side analysts predict that Pinnacle West Capital Co. will post 4.27 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were paid a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, October 31st. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.66. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 60.04%.

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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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