OMERS ADMINISTRATION Corp acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,387 shares of the utilities provider’s stock, valued at approximately $1,566,000.

Several other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Pinnacle West Capital Corporation during the second quarter worth approximately $106,000. WealthTrust Arizona LLC increased its stake in Pinnacle West Capital Corporation by 0.7% in the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock worth $107,000 after buying an additional 9 shares in the last quarter. Parallel Advisors LLC increased its stake in Pinnacle West Capital Corporation by 8.9% in the first quarter. Parallel Advisors LLC now owns 2,069 shares of the utilities provider’s stock worth $175,000 after buying an additional 169 shares in the last quarter. Pacer Advisors Inc. increased its stake in Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock worth $175,000 after buying an additional 66 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Pinnacle West Capital Corporation by 2.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,315 shares of the utilities provider’s stock worth $193,000 after buying an additional 50 shares in the last quarter. 84.18% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Corporation (NYSE PNW) opened at 89.97 on Friday. The company has a 50-day moving average price of $88.05 and a 200 day moving average price of $85.52. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $90.41. The company has a market cap of $10.04 billion, a PE ratio of 19.87 and a beta of 0.37.

Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.33. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The business had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. During the same quarter in the prior year, the company earned $1.08 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle West Capital Corporation will post $4.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is currently 57.96%.

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A number of research firms recently commented on PNW. Morgan Stanley boosted their target price on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Royal Bank Of Canada restated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Tuesday. BidaskClub upgraded Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets restated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $81.89.

In related news, EVP David P. Falck sold 4,600 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total transaction of $413,908.00. Following the completion of the transaction, the executive vice president now owns 42,840 shares in the company, valued at $3,854,743.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald E. Brandt sold 35,013 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the transaction, the chairman now owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The disclosure for this sale can be found here. Insiders have sold 41,419 shares of company stock worth $3,713,068 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Pinnacle West Capital Corporation Company Profile

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.

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

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