AMP Capital Investors Ltd Has $5.25 Million Stake in Pinnacle West Capital Co. (PNW)

AMP Capital Investors Ltd decreased its position in Pinnacle West Capital Co. (NYSE:PNW) by 19.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,210 shares of the utilities provider’s stock after selling 15,926 shares during the quarter. AMP Capital Investors Ltd owned 0.06% of Pinnacle West Capital worth $5,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNW. Wells Fargo & Company MN grew its holdings in shares of Pinnacle West Capital by 8.0% in the 1st quarter. Wells Fargo & Company MN now owns 739,375 shares of the utilities provider’s stock worth $59,002,000 after purchasing an additional 54,608 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of Pinnacle West Capital in the 1st quarter worth about $1,501,000. M&T Bank Corp grew its holdings in shares of Pinnacle West Capital by 15.8% in the 1st quarter. M&T Bank Corp now owns 8,775 shares of the utilities provider’s stock worth $700,000 after purchasing an additional 1,196 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Pinnacle West Capital by 30.2% in the 1st quarter. State of Wisconsin Investment Board now owns 176,278 shares of the utilities provider’s stock worth $14,067,000 after purchasing an additional 40,939 shares during the last quarter. Finally, ING Groep NV grew its holdings in shares of Pinnacle West Capital by 7.5% in the 1st quarter. ING Groep NV now owns 11,423 shares of the utilities provider’s stock worth $912,000 after purchasing an additional 800 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PNW opened at $80.35 on Friday. Pinnacle West Capital Co. has a 12 month low of $73.41 and a 12 month high of $92.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.36 and a current ratio of 0.50. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 4.01 and a beta of 0.13.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, August 3rd. The utilities provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The firm had revenue of $974.12 million for the quarter, compared to analyst estimates of $939.59 million. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s revenue was up 3.1% on a year-over-year basis. analysts expect that Pinnacle West Capital Co. will post 4.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 1st were issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Tuesday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 63.91%.

Several research firms have recently weighed in on PNW. Zacks Investment Research lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of Pinnacle West Capital from $85.00 to $89.00 and gave the stock a “hold” rating in a report on Tuesday, September 11th. UBS Group upped their target price on shares of Pinnacle West Capital from $79.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Wells Fargo & Co raised shares of Pinnacle West Capital from a “market perform” rating to an “outperform” rating in a report on Monday, August 6th. Finally, ValuEngine raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Pinnacle West Capital presently has an average rating of “Hold” and a consensus price target of $84.11.

Pinnacle West Capital Company 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.

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

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