Pinnacle West Capital Co. (NYSE:PNW) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 326.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,963 shares of the utilities provider’s stock after buying an additional 48,212 shares during the period. Quantbot Technologies LP owned about 0.06% of Pinnacle West Capital worth $4,809,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Empirical Finance LLC boosted its stake in shares of Pinnacle West Capital by 3.4% in the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 134 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after buying an additional 137 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after buying an additional 199 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Pinnacle West Capital by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after acquiring an additional 199 shares during the last quarter. Finally, SFE Investment Counsel grew its stake in Pinnacle West Capital by 1.3% during the 2nd quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock valued at $1,408,000 after acquiring an additional 245 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNW has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their price target for the company from $74.00 to $83.50 in a research report on Thursday, June 6th. Morgan Stanley increased their price objective on Pinnacle West Capital from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Barclays reduced their target price on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.95.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $90.70 on Monday. The stock’s 50-day simple moving average is $85.30 and its 200-day simple moving average is $78.34. The firm has a market capitalization of $10.30 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.27 and a beta of 0.52. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $90.74. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 4.77 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Thursday, August 1st. Pinnacle West Capital’s payout ratio is currently 76.69%.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at approximately $548,862.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.