Pinnacle West Capital Co. (PNW) Holdings Trimmed by TD Asset Management Inc.

TD Asset Management Inc. lessened its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 91,898 shares of the utilities provider’s stock after selling 1,185 shares during the quarter. TD Asset Management Inc. owned approximately 0.08% of Pinnacle West Capital worth $7,771,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 496,727 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pinnacle West Capital by 27.2% during 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 in the last quarter. Boston Partners boosted its holdings in shares of Pinnacle West Capital by 37.6% during 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of Pinnacle West Capital by 3.8% during 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 in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Pinnacle West Capital by 0.3% during 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 in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

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

PNW has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Pinnacle West Capital from $79.00 to $83.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. BidaskClub upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital in a report on Tuesday, August 29th. KeyCorp reiterated a “hold” rating on shares of Pinnacle West Capital in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $86.70.

Shares of Pinnacle West Capital Co. (PNW) traded down $0.80 during trading hours on Tuesday, reaching $90.21. The company’s stock had a trading volume of 836,900 shares, compared to its average volume of 677,339. 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 fifty-two week low of $72.61 and a fifty-two week high of $92.48. The company has a market cap of $10,168.53, a PE ratio of 19.66, a PEG ratio of 6.59 and a beta of 0.38.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.13. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $2.35 EPS. The business’s revenue was up 1.4% on a year-over-year basis. equities research analysts forecast that Pinnacle West Capital Co. will post 4.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.695 per share. 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. This represents a $2.78 annualized dividend and a yield of 3.08%. Pinnacle West Capital’s dividend payout ratio (DPR) is 60.04%.

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Pinnacle West Capital 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 (NYSE:PNW)

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