State of Wisconsin Investment Board grew its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,116 shares of the utilities provider’s stock after purchasing an additional 6,156 shares during the period. State of Wisconsin Investment Board owned about 0.08% of Pinnacle West Capital Corporation worth $7,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank raised its holdings in shares of Pinnacle West Capital Corporation by 2.8% in the second quarter. Swiss National Bank now owns 405,651 shares of the utilities provider’s stock valued at $34,545,000 after purchasing an additional 11,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Pinnacle West Capital Corporation by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 507,078 shares of the utilities provider’s stock valued at $43,183,000 after purchasing an additional 20,097 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Pinnacle West Capital Corporation by 140.6% in the second quarter. American Century Companies Inc. now owns 2,515,865 shares of the utilities provider’s stock valued at $214,251,000 after purchasing an additional 1,470,383 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Pinnacle West Capital Corporation by 0.3% in the second quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock valued at $167,166,000 after purchasing an additional 5,092 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of Pinnacle West Capital Corporation by 3.4% in the second quarter. Teachers Advisors LLC now owns 483,102 shares of the utilities provider’s stock valued at $41,141,000 after purchasing an additional 15,871 shares during the last quarter. Institutional investors own 85.15% of the company’s stock.

Pinnacle West Capital Corporation (PNW) opened at $90.05 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Corporation has a 52-week low of $72.61 and a 52-week high of $92.48. The company has a market cap of $10,061.29, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 6.52 and a beta of 0.38.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.13. Pinnacle West Capital Corporation had a net margin of 14.67% and a return on equity of 10.31%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business posted $2.35 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. equities analysts predict that Pinnacle West Capital Corporation will post 4.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.09%. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. Pinnacle West Capital Corporation’s payout ratio is 60.04%.

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A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Morgan Stanley boosted their target price on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, September 11th. Credit Suisse Group assumed coverage on shares of Pinnacle West Capital Corporation in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, KeyCorp restated a “hold” rating on shares of Pinnacle West Capital Corporation in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $86.40.

In other news, Director Kathryn L. Munro sold 1,806 shares of the business’s stock in a transaction dated 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 owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David P. Falck sold 4,600 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,584 shares of company stock valued at $5,518,300. Company insiders own 0.70% of the company’s stock.

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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