Schwab Charles Investment Management Inc. increased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 539,272 shares of the utilities provider’s stock after buying an additional 32,194 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.48% of Pinnacle West Capital worth $45,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNW. Wedbush Securities Inc. grew its stake in shares of Pinnacle West Capital by 0.3% in the second quarter. Wedbush Securities Inc. now owns 8,736 shares of the utilities provider’s stock worth $744,000 after purchasing an additional 25 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Pinnacle West Capital by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,288 shares of the utilities provider’s stock worth $706,000 after purchasing an additional 29 shares in the last quarter. Veritable L.P. grew its stake in shares of Pinnacle West Capital by 1.3% in the second quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 40 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Pinnacle West Capital by 0.4% in the second quarter. CIBC Asset Management Inc now owns 10,805 shares of the utilities provider’s stock worth $920,000 after purchasing an additional 41 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Pinnacle West Capital by 3.6% in the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

In other news, CEO Donald E. Brandt sold 18,153 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.54, for a total value of $1,625,419.62. Following the completion of the sale, the chief executive officer now owns 118,574 shares in the company, valued at $10,617,115.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Gallagher sold 2,012 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $89.37, for a total value of $179,812.44. Following the completion of the sale, the director now owns 12,786 shares of the company’s stock, valued at approximately $1,142,684.82. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

PNW has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Pinnacle West Capital from $83.00 to $86.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. SunTrust Banks reissued a “hold” rating and issued a $84.00 price target on shares of Pinnacle West Capital in a research note on Thursday, October 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, August 29th. ValuEngine raised Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus target price of $86.70.

Shares of Pinnacle West Capital Co. (NYSE PNW) traded up $0.57 during trading on Thursday, hitting $89.91. The stock had a trading volume of 497,100 shares, compared to its average volume of 676,341. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90. The firm has a market capitalization of $10,050.00, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 6.47 and a beta of 0.38. Pinnacle West Capital Co. has a twelve month low of $74.07 and a twelve month high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 earnings per share. equities research analysts expect that Pinnacle West Capital Co. will post 4.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were issued a $0.695 dividend. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $2.78 annualized dividend and a dividend yield of 3.09%. Pinnacle West Capital’s dividend payout ratio is 60.04%.

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Pinnacle West Capital 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 (NYSE:PNW)

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