Nissay Asset Management Corp Japan ADV Buys 372 Shares of Pinnacle West Capital Co. (NYSE:PNW)

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Nissay Asset Management Corp Japan ADV grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,553 shares of the utilities provider’s stock after acquiring an additional 372 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Pinnacle West Capital were worth $847,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PNW. Meeder Asset Management Inc. raised its stake in Pinnacle West Capital by 283.2% in the first quarter. Meeder Asset Management Inc. now owns 7,166 shares of the utilities provider’s stock worth $544,000 after buying an additional 5,296 shares in the last quarter. Cypress Capital Group purchased a new stake in shares of Pinnacle West Capital during the second quarter valued at $295,000. Abbot Financial Management Inc. purchased a new stake in shares of Pinnacle West Capital during the second quarter valued at $773,000. Chicago Equity Partners LLC grew its holdings in shares of Pinnacle West Capital by 9.6% during the first quarter. Chicago Equity Partners LLC now owns 20,440 shares of the utilities provider’s stock valued at $1,549,000 after buying an additional 1,790 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Pinnacle West Capital by 8.9% during the fourth quarter. Nuveen Asset Management LLC now owns 546,470 shares of the utilities provider’s stock valued at $49,144,000 after buying an additional 44,767 shares during the last quarter. 84.26% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital stock opened at $83.08 on Friday. The stock has a market capitalization of $9.35 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.34. Pinnacle West Capital Co. has a 12 month low of $60.05 and a 12 month high of $105.51. The business has a 50 day simple moving average of $77.13 and a 200-day simple moving average of $82.36. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.47 and a quick ratio of 0.32.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.11. The business had revenue of $661.93 million during the quarter, compared to analysts’ expectations of $749.63 million. Pinnacle West Capital had a return on equity of 9.92% and a net margin of 16.22%. The business’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. On average, equities research analysts anticipate that Pinnacle West Capital Co. will post 4.83 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.7825 per share. This represents a $3.13 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, July 31st. Pinnacle West Capital’s payout ratio is 65.62%.

PNW has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $86.00 price objective on shares of Pinnacle West Capital in a report on Thursday, April 30th. Credit Suisse Group reduced their price objective on Pinnacle West Capital from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Goldman Sachs Group upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, June 15th. Guggenheim upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 12th. Finally, Barclays upgraded Pinnacle West Capital from an “equal weight” rating to an “overweight” rating and set a $89.00 price target for the company in a research report on Thursday, June 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $90.27.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNW).

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

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