Hexavest Inc. boosted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 272,688 shares of the utilities provider’s stock after purchasing an additional 3,753 shares during the quarter. Hexavest Inc. owned about 0.24% of Pinnacle West Capital worth $23,228,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings 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 valued at $1,002,686,000 after acquiring an additional 496,727 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 period. Boston Partners lifted its holdings 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 period. American Century Companies Inc. lifted its holdings 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 period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Pinnacle West Capital by 11,341.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,838,427 shares of the utilities provider’s stock worth $156,560,000 after buying an additional 1,822,359 shares during the period. 82.75% of the stock is currently owned by institutional investors.
Several research firms have recently commented on PNW. Royal Bank of Canada reissued a “neutral” rating on shares of Pinnacle West Capital in a research report on Thursday. Zacks Investment Research lowered Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. SunTrust Banks set a $84.00 target price on Pinnacle West Capital and gave the company a “hold” rating in a research report on Monday, January 22nd. Bank of America lowered Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price objective on the stock. in a report on Wednesday, January 3rd. Finally, ValuEngine lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $86.20.
Shares of Pinnacle West Capital Co. (NYSE PNW) traded down $0.73 during trading on Friday, hitting $77.73. The company’s stock had a trading volume of 681,587 shares, compared to its average volume of 699,560. Pinnacle West Capital Co. has a fifty-two week low of $76.89 and a fifty-two week high of $92.48. The firm has a market capitalization of $8,684.77, a PE ratio of 16.79, a P/E/G ratio of 5.55 and a beta of 0.27. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85.
Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, beating the consensus estimate of $2.33 by $0.13. The firm 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 business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 earnings per share. equities analysts forecast that Pinnacle West Capital Co. will post 4.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.695 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.78 annualized dividend and a yield of 3.58%. Pinnacle West Capital’s dividend payout ratio (DPR) is 60.04%.
In related news, Chairman Donald E. Brandt sold 24,216 shares of Pinnacle West Capital stock in a transaction on Friday, January 19th. The stock was sold at an average price of $79.21, for a total value of $1,918,149.36. Following the completion of the transaction, the chairman now directly owns 94,358 shares in the company, valued at $7,474,097.18. 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 completion of the transaction, the chief executive officer now owns 118,574 shares of the company’s stock, valued at $10,617,115.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,881 shares of company stock valued at $4,124,196. 0.70% of the stock is owned by insiders.
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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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