10,740 Shares in Pinnacle West Capital Corporation (PNW) Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. purchased a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,740 shares of the utilities provider’s stock, valued at approximately $908,000.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. WealthTrust Arizona LLC increased its stake in shares of Pinnacle West Capital Corporation by 0.7% during the 2nd quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 9 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Pinnacle West Capital Corporation during the 2nd quarter worth $109,000. Parallel Advisors LLC grew its stake in Pinnacle West Capital Corporation by 3.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares during the last quarter. Pacer Advisors Inc. grew its stake in Pinnacle West Capital Corporation by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new position in Pinnacle West Capital Corporation in the 3rd quarter valued at $205,000. Institutional investors own 84.31% of the company’s stock.

Shares of Pinnacle West Capital Corporation (PNW) opened at $88.34 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. The stock has a market cap of $9,870.23, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 6.40 and a beta of 0.38. Pinnacle West Capital Corporation has a 12-month low of $72.15 and a 12-month high of $90.92.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.15%. This is a positive change from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is currently 60.04%.

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PNW has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Credit Suisse Group initiated coverage on shares of Pinnacle West Capital Corporation in a research note on Wednesday, September 20th. They issued a “neutral” rating and a $90.00 target price on the stock. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Monday, September 11th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Pinnacle West Capital Corporation in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $86.40.

In other news, Chairman Donald E. Brandt sold 35,013 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the completion of the transaction, the chairman now directly owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn L. Munro sold 1,806 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $90.28, for a total transaction of $163,045.68. Following the transaction, the director now directly owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The disclosure for this sale can be found here. Insiders sold a total of 41,419 shares of company stock worth $3,713,068 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Pinnacle West Capital Corporation 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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