Stifel Financial Corp raised its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 33.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,990 shares of the utilities provider’s stock after buying an additional 2,774 shares during the quarter. Stifel Financial Corp’s holdings in Pinnacle West Capital were worth $929,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PNW. Captrust Financial Advisors purchased a new stake in Pinnacle West Capital in the 2nd quarter valued at about $109,000. Pacer Advisors Inc. grew its holdings in Pinnacle West Capital 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 period. Stock Yards Bank & Trust Co. purchased a new stake in Pinnacle West Capital in the 3rd quarter valued at about $205,000. Quantitative Systematic Strategies LLC purchased a new stake in Pinnacle West Capital in the 3rd quarter valued at about $214,000. Finally, Capital Fund Management S.A. purchased a new stake in Pinnacle West Capital in the 2nd quarter valued at about $238,000. Institutional investors own 82.72% of the company’s stock.
In other Pinnacle West Capital news, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at approximately $3,637,440.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Gallagher sold 2,012 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,786 shares in the company, valued at $1,142,684.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,665 shares of company stock worth $2,206,047. 0.70% of the stock is currently owned by corporate insiders.
Pinnacle West Capital Co. (PNW) opened at $79.92 on Friday. The company has a market capitalization of $9,000.00, a P/E ratio of 17.26, a P/E/G ratio of 5.89 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 $75.79 and a 52-week high of $92.48.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. Pinnacle West Capital’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 EPS. analysts predict that Pinnacle West Capital Co. will post 4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 60.04%.
Several analysts have commented on PNW shares. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Credit Suisse Group assumed coverage on Pinnacle West Capital in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price for the company. SunTrust Banks reiterated a “hold” rating and set a $88.00 target price on shares of Pinnacle West Capital in a report on Monday, October 30th. Morgan Stanley boosted their target price on Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. Finally, Bank of America cut Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 target price for the company. in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $86.40.
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Pinnacle West Capital 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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