Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by AMP Capital Investors Ltd

AMP Capital Investors Ltd reduced its position in Pinnacle West Capital Co. (NYSE:PNW) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,894 shares of the utilities provider’s stock after selling 12,910 shares during the quarter. AMP Capital Investors Ltd owned about 0.12% of Pinnacle West Capital worth $11,063,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nationwide Fund Advisors lifted its holdings in shares of Pinnacle West Capital by 5.5% during the third quarter. Nationwide Fund Advisors now owns 211,872 shares of the utilities provider’s stock worth $17,916,000 after purchasing an additional 11,132 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of Pinnacle West Capital by 7.4% during the third quarter. State of Wisconsin Investment Board now owns 89,116 shares of the utilities provider’s stock worth $7,536,000 after purchasing an additional 6,156 shares during the period. Swiss National Bank lifted its holdings in shares of Pinnacle West Capital by 1.3% during the third quarter. Swiss National Bank now owns 410,851 shares of the utilities provider’s stock worth $34,742,000 after purchasing an additional 5,200 shares during the period. Global X MANAGEMENT CO LLC lifted its holdings in shares of Pinnacle West Capital by 17.8% during the third quarter. Global X MANAGEMENT CO LLC now owns 6,662 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 1,008 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Pinnacle West Capital by 1.5% during the third quarter. New York State Common Retirement Fund now owns 235,900 shares of the utilities provider’s stock worth $19,948,000 after purchasing an additional 3,500 shares during the period. 82.64% of the stock is owned by institutional investors and hedge funds.

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Pinnacle West Capital stock opened at $79.75 on Friday. The stock has a market cap of $8,950.69, a P/E ratio of 18.33, a P/E/G ratio of 6.05 and a beta of 0.27. Pinnacle West Capital Co. has a 52 week low of $73.81 and a 52 week high of $92.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The firm had revenue of $759.65 million during the quarter, compared to analysts’ expectations of $773.12 million. During the same quarter last year, the business posted $0.47 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. sell-side analysts forecast that Pinnacle West Capital Co. will post 4.46 earnings per share for the current year.

In related news, CEO Donald E. Brandt sold 39,083 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $77.23, for a total transaction of $3,018,380.09. Following the completion of the transaction, the chief executive officer now owns 88,741 shares in the company, valued at approximately $6,853,467.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John S. Hatfield sold 2,145 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $76.14, for a total value of $163,320.30. Following the transaction, the vice president now owns 1,443 shares of the company’s stock, valued at approximately $109,870.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,110 shares of company stock worth $5,300,760. 0.70% of the stock is owned by corporate insiders.

Several research analysts have issued reports on the company. Zacks Investment Research cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Bank of America cut Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price objective for the company. in a research report on Wednesday, January 3rd. Morgan Stanley increased their price objective on Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 13th. ValuEngine cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $88.00 price objective on shares of Pinnacle West Capital in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.36.

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Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

Institutional Ownership by Quarter for Pinnacle West Capital (NYSE:PNW)

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