Magnetar Financial LLC raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 415.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,295 shares of the utilities provider’s stock after buying an additional 12,328 shares during the quarter. Magnetar Financial LLC’s holdings in Pinnacle West Capital were worth $1,293,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in Pinnacle West Capital in the 2nd quarter valued at about $109,000. Parallel Advisors LLC increased its holdings in Pinnacle West Capital by 3.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares during the period. Pacer Advisors Inc. increased its holdings in Pinnacle West Capital by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the period. Stock Yards Bank & Trust Co. bought a new position in Pinnacle West Capital in the 3rd quarter valued at about $205,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Pinnacle West Capital in the 3rd quarter valued at about $214,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Co. (NYSE:PNW) traded up $0.60 on Friday, hitting $90.75. 408,229 shares of the stock were exchanged, compared to its average volume of 608,874. Pinnacle West Capital Co. has a one year low of $74.46 and a one year high of $92.48. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. The firm has a market cap of $10,072.44, a P/E ratio of 19.47, a P/E/G ratio of 6.53 and a beta of 0.38.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 1st were given a dividend of $0.695 per share. The ex-dividend date was Tuesday, October 31st. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.66. This represents a $2.78 annualized dividend and a yield of 3.06%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 60.04%.

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

Several equities analysts have commented on PNW shares. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Thursday, October 26th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. BidaskClub upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. KeyCorp restated a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.70.

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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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