Pinnacle West Capital Co. (PNW) Chairman Sells $1,918,149.36 in Stock

Pinnacle West Capital Co. (NYSE:PNW) Chairman Donald E. Brandt sold 24,216 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 94,358 shares of the company’s stock, valued at $7,474,097.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Pinnacle West Capital Co. (NYSE PNW) traded down $0.12 during mid-day trading on Monday, hitting $78.96. 683,730 shares of the company were exchanged, compared to its average volume of 610,146. The stock has a market cap of $8,820.00, a PE ratio of 17.05, a P/E/G ratio of 5.65 and a beta of 0.38. 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 Co. has a 12 month low of $75.79 and a 12 month high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 14.67% and a return on equity of 10.31%. Pinnacle West Capital’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.35 EPS. sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be paid a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s payout ratio is currently 60.04%.

Several hedge funds have recently made changes to their positions in the stock. Veritable L.P. lifted its stake in 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 purchasing an additional 40 shares in the last quarter. Sentry Investment Management LLC lifted its stake in 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 purchasing an additional 92 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in 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 purchasing an additional 130 shares in the last quarter. Advisory Services Network LLC lifted its stake in 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 purchasing an additional 420 shares in the last quarter. Finally, Virtu KCG Holdings LLC lifted its stake in 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 purchasing an additional 456 shares in the last quarter. Institutional investors own 82.64% of the company’s stock.

A number of research firms have recently weighed in on PNW. SunTrust Banks set a $84.00 target price on shares of Pinnacle West Capital and gave the company a “hold” rating in a research report on Monday. Zacks Investment Research raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating and set a $89.00 target price for the company in a research report on Monday, January 15th. Bank of America started coverage on shares of Pinnacle West Capital in a research note on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price target on the stock. Morgan Stanley upped their price target on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a research note on Wednesday, December 13th. Finally, ValuEngine cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $86.22.

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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)

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