Private Advisor Group LLC lowered its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 96.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,088 shares of the utilities provider’s stock after selling 101,984 shares during the period. Private Advisor Group LLC’s holdings in Pinnacle West Capital Corporation were worth $344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. WealthTrust Arizona LLC raised its stake in shares of Pinnacle West Capital Corporation by 0.7% during 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. Wedbush Securities Inc. raised its stake in shares of Pinnacle West Capital Corporation by 0.3% during the second quarter. Wedbush Securities Inc. now owns 8,736 shares of the utilities provider’s stock valued at $744,000 after purchasing an additional 25 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Pinnacle West Capital Corporation by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,288 shares of the utilities provider’s stock valued at $706,000 after purchasing an additional 29 shares during the period. ING Groep NV raised its stake in shares of Pinnacle West Capital Corporation by 0.6% during the second quarter. ING Groep NV now owns 5,708 shares of the utilities provider’s stock valued at $486,000 after purchasing an additional 34 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in shares of Pinnacle West Capital Corporation by 1.0% during the second quarter. Eqis Capital Management Inc. now owns 3,928 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 39 shares during the period. Institutional investors own 84.20% of the company’s stock.

A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. BMO Capital Markets reiterated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.67.

In other news, Chairman Donald E. Brandt sold 35,013 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total value of $3,136,114.41. Following the completion of the sale, the chairman now directly owns 118,574 shares of the company’s stock, valued at $10,620,673.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn L. Munro sold 1,806 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $90.28, for a total value of $163,045.68. Following the completion of the sale, 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. Insiders have sold 41,419 shares of company stock valued at $3,713,068 in the last ninety days. Company insiders own 0.70% of the company’s stock.

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Shares of Pinnacle West Capital Corporation (PNW) opened at 88.34 on Tuesday. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 19.51 and a beta of 0.38. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $90.92. The company has a 50 day moving average of $89.10 and a 200-day moving average of $86.32.

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

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st were given a dividend of $0.655 per share. The ex-dividend date was Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a yield of 2.97%. Pinnacle West Capital Corporation’s payout ratio is currently 57.96%.

About Pinnacle West Capital Corporation

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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