Balyasny Asset Management LLC grew its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458,265 shares of the utilities provider’s stock after purchasing an additional 42,834 shares during the period. Balyasny Asset Management LLC owned 0.41% of Pinnacle West Capital Corporation worth $39,026,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC boosted its stake in shares of Pinnacle West Capital Corporation by 6.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 101,538 shares of the utilities provider’s stock worth $8,647,000 after purchasing an additional 6,220 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Pinnacle West Capital Corporation by 40.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 122,153 shares of the utilities provider’s stock worth $10,403,000 after purchasing an additional 35,467 shares during the last quarter. Veritable L.P. boosted its stake in shares of Pinnacle West Capital Corporation by 1.3% during the 2nd quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 40 shares during the last quarter. Blackstart Capital LP boosted its stake in shares of Pinnacle West Capital Corporation by 264.7% during the 2nd quarter. Blackstart Capital LP now owns 91,165 shares of the utilities provider’s stock worth $7,757,000 after purchasing an additional 66,165 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Pinnacle West Capital Corporation by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 273,662 shares of the utilities provider’s stock worth $23,305,000 after purchasing an additional 4,518 shares during the last quarter. 84.20% of the stock is currently owned by institutional investors.

In other Pinnacle West Capital Corporation news, Director Kathryn L. Munro sold 1,806 shares of Pinnacle West Capital Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $90.28, for a total transaction of $163,045.68. Following the transaction, the director now owns 17,852 shares of the company’s stock, valued at approximately $1,611,678.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chairman now directly owns 118,574 shares in the company, valued at approximately $10,620,673.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,419 shares of company stock worth $3,713,068. Company insiders own 0.70% of the company’s stock.

PNW has been the topic of several analyst reports. BidaskClub cut shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th. Finally, Morgan Stanley raised their price target on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.11.

Shares of Pinnacle West Capital Corporation (NYSE:PNW) traded down 0.41% on Friday, hitting $84.56. 662,852 shares of the stock traded hands. The company’s 50 day moving average is $89.15 and its 200 day moving average is $86.36. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $90.92. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 18.67 and a beta of 0.38.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $944.59 million for the quarter, compared to analysts’ expectations of $921.79 million. During the same quarter in the previous year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/09/30/balyasny-asset-management-llc-has-39-03-million-holdings-in-pinnacle-west-capital-corporation-pnw.html.

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.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW).

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

Receive News & Stock Ratings for Pinnacle West Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital Corporation and related stocks with our FREE daily email newsletter.