Donald E. Brandt Sells 24,216 Shares of Pinnacle West Capital Co. (PNW) Stock

Pinnacle West Capital Co. (NYSE:PNW) Chairman Donald E. Brandt sold 24,216 shares of Pinnacle West Capital stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the sale, the chairman now owns 94,358 shares of the company’s stock, valued at $7,474,097.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $76.82 on Wednesday. The company has a market cap of $8,573.03, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 5.48 and a beta of 0.27. Pinnacle West Capital Co. has a 1 year low of $73.81 and a 1 year high of $92.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be given 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 dividend yield of 3.62%. Pinnacle West Capital’s payout ratio is currently 60.04%.

A number of research analysts recently issued reports on PNW shares. Bank of America started coverage on shares of Pinnacle West Capital in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price target for the company. Zacks Investment Research upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Thursday, October 26th. SunTrust Banks restated a “hold” rating and set a $88.00 price objective on shares of Pinnacle West Capital in a research report on Monday, October 30th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley lifted their target price on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.30.

Hedge funds and other institutional investors have recently modified their holdings of the business. Veritable L.P. boosted its position in shares of Pinnacle West Capital by 1.3% in the 2nd quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock worth $267,000 after buying an additional 40 shares in the last quarter. Sentry Investment Management LLC boosted its position in shares of Pinnacle West Capital by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 8,646 shares of the utilities provider’s stock worth $736,000 after buying an additional 92 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Pinnacle West Capital by 2.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,837 shares of the utilities provider’s stock worth $411,000 after buying an additional 130 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Pinnacle West Capital by 10.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,595 shares of the utilities provider’s stock worth $391,000 after buying an additional 420 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in shares of Pinnacle West Capital by 2.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 16,439 shares of the utilities provider’s stock worth $1,400,000 after buying an additional 456 shares in the last quarter. Institutional investors own 82.54% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Donald E. Brandt Sells 24,216 Shares of Pinnacle West Capital Co. (PNW) Stock” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/14/pinnacle-west-capital-co-pnw-chairman-sells-1918149-36-in-stock.html.

About Pinnacle West Capital

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.

Insider Buying and Selling by Quarter for Pinnacle West Capital (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply