Duff & Phelps Investment Management Co. increased its position in Pinnacle West Capital Corp. (NYSE:PNW) by 789.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000,000 shares of the company’s stock after buying an additional 887,600 shares during the period. Pinnacle West Capital Corp. accounts for about 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 23rd largest position. Duff & Phelps Investment Management Co. owned 0.90% of Pinnacle West Capital Corp. worth $81,060,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Pinnacle West Capital Corp. by 7.8% in the first quarter. State Street Corp now owns 6,259,188 shares of the company’s stock worth $469,889,000 after buying an additional 455,533 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Pinnacle West Capital Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,049,451 shares of the company’s stock worth $228,922,000 after buying an additional 18,471 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Pinnacle West Capital Corp. by 78.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,917,537 shares of the company’s stock worth $219,019,000 after buying an additional 1,284,112 shares during the period. Renaissance Technologies LLC raised its position in shares of Pinnacle West Capital Corp. by 18.4% in the first quarter. Renaissance Technologies LLC now owns 1,138,300 shares of the company’s stock worth $85,452,000 after buying an additional 176,600 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Pinnacle West Capital Corp. by 23.6% in the first quarter. Wellington Management Group LLP now owns 1,015,701 shares of the company’s stock worth $76,249,000 after buying an additional 193,718 shares during the period. 82.66% of the stock is currently owned by institutional investors.

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

Pinnacle West Capital Corp. (NYSE:PNW) traded up 1.19% on Tuesday, hitting $75.12. The stock had a trading volume of 773,022 shares. The company has a market cap of $8.35 billion, a PE ratio of 19.84 and a beta of 0.33. The stock has a 50-day moving average of $75.56 and a 200-day moving average of $76.00. Pinnacle West Capital Corp. has a one year low of $60.70 and a one year high of $82.78.

Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.06. The firm had revenue of $915.40 million for the quarter, compared to analyst estimates of $915.40 million. Pinnacle West Capital Corp. had a net margin of 12.02% and a return on equity of 8.94%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. Equities analysts expect that Pinnacle West Capital Corp. will post $3.99 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on PNW shares. Williams Capital restated a “hold” rating and set a $79.00 target price (up from $58.00) on shares of Pinnacle West Capital Corp. in a research report on Tuesday, August 30th. Zacks Investment Research lowered shares of Pinnacle West Capital Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. SunTrust Banks Inc. lowered their price objective on shares of Pinnacle West Capital Corp. from $76.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, August 29th. BMO Capital Markets reiterated a “hold” rating on shares of Pinnacle West Capital Corp. in a research report on Monday, July 18th. Finally, Royal Bank Of Canada reiterated a “sector perfor” rating and issued a $69.00 price objective (down from $73.00) on shares of Pinnacle West Capital Corp. in a research report on Monday, June 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Pinnacle West Capital Corp. has an average rating of “Hold” and a consensus target price of $71.40.

In related news, VP John S. Hatfield sold 4,523 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $75.27, for a total transaction of $340,446.21. Following the sale, the vice president now directly owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Pinnacle West Capital Corp. Company Profile

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

5 Day Chart for NYSE:PNW

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