HPM Partners LLC raised its position in Pinnacle West Capital Corporation (NYSE:PNW) by 27.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,867 shares of the utilities provider’s stock after purchasing an additional 1,059 shares during the quarter. HPM Partners LLC’s holdings in Pinnacle West Capital Corporation were worth $289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Pinnacle West Capital Corporation in the second quarter valued at approximately $106,000. WealthTrust Arizona LLC raised its position 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 valued at $107,000 after purchasing an additional 9 shares during the period. Pacer Advisors Inc. raised its position 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 valued at $175,000 after purchasing an additional 66 shares during the period. Parallel Advisors LLC raised its position 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 valued at $175,000 after purchasing an additional 169 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position 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 valued at $193,000 after purchasing an additional 50 shares during the period. 84.20% of the stock is currently owned by institutional investors.

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Pinnacle West Capital Corporation (PNW) opened at 90.75 on Tuesday. Pinnacle West Capital Corporation has a 1-year low of $70.86 and a 1-year high of $90.92. The firm has a market cap of $10.13 billion, a P/E ratio of 20.04 and a beta of 0.38. The firm has a 50 day moving average of $88.73 and a 200 day moving average of $86.05.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. The business had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. On average, equities research analysts expect that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is currently 57.96%.

A number of analysts have issued reports on PNW shares. BidaskClub lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley boosted their target price on Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the company an “underweight” rating in a research report on Friday. Zacks Investment Research lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a research report on Tuesday, August 29th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Pinnacle West Capital Corporation presently has a consensus rating of “Hold” and an average price target of $83.67.

In other news, Chairman Donald E. Brandt sold 35,013 shares of Pinnacle West Capital Corporation stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total value of $3,136,114.41. Following the completion of the transaction, the chairman now directly owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn L. Munro sold 1,806 shares of Pinnacle West Capital Corporation stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the completion of the transaction, the director now directly owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,419 shares of company stock valued at $3,713,068. 0.70% of the stock is owned by company insiders.

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.

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

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