Pinnacle West Capital Co. (NYSE:PNW) Holdings Raised by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Pinnacle West Capital Co. (NYSE:PNW) by 39.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,273 shares of the utilities provider’s stock after buying an additional 20,766 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Pinnacle West Capital worth $7,113,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PNW. Nuveen Asset Management LLC purchased a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $119,834,000. AQR Capital Management LLC raised its holdings in shares of Pinnacle West Capital by 24.2% during the 2nd quarter. AQR Capital Management LLC now owns 2,900,739 shares of the utilities provider’s stock valued at $272,931,000 after purchasing an additional 565,847 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Pinnacle West Capital by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 13,835,051 shares of the utilities provider’s stock valued at $1,301,740,000 after purchasing an additional 460,562 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Pinnacle West Capital by 30.4% during the 2nd quarter. Wells Fargo & Company MN now owns 1,572,947 shares of the utilities provider’s stock valued at $147,998,000 after purchasing an additional 366,298 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Pinnacle West Capital by 68.8% during the 2nd quarter. First Trust Advisors LP now owns 878,965 shares of the utilities provider’s stock valued at $82,702,000 after purchasing an additional 358,171 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

A number of research analysts have recently weighed in on PNW shares. Morgan Stanley cut their price target on shares of Pinnacle West Capital from $95.00 to $87.00 and set an “underweight” rating on the stock in a report on Friday. Credit Suisse Group raised their price target on shares of Pinnacle West Capital from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, October 7th. UBS Group raised their price target on shares of Pinnacle West Capital from $99.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Zacks Investment Research downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 price target on the stock. in a report on Friday, October 18th. Finally, SunTrust Banks cut their price target on shares of Pinnacle West Capital from $99.00 to $98.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $95.83.

PNW traded down $1.43 during trading on Friday, hitting $86.39. The stock had a trading volume of 1,362,990 shares, compared to its average volume of 981,974. The firm has a market cap of $10.19 billion, a PE ratio of 19.03, a P/E/G ratio of 3.11 and a beta of 0.06. Pinnacle West Capital Co. has a 12 month low of $81.63 and a 12 month high of $99.81. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.92. The company has a 50 day simple moving average of $94.82 and a 200-day simple moving average of $94.68.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, November 7th. The utilities provider reported $2.77 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.23). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.25 billion. Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.80 EPS. As a group, sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.7825 dividend. This represents a $3.13 annualized dividend and a yield of 3.62%. The ex-dividend date is Friday, November 1st. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio (DPR) is 68.94%.

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 generating facilities. The company serves approximately 1.2 million customers.

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

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