Parametric Portfolio Associates LLC grew its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 546,770 shares of the utilities provider’s stock after buying an additional 42,481 shares during the quarter. Parametric Portfolio Associates LLC owned 0.49% of Pinnacle West Capital worth $46,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Pinnacle West Capital 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 worth $706,000 after buying an additional 29 shares during the period. Veritable L.P. grew its stake in Pinnacle West Capital by 1.3% during the second quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock worth $267,000 after buying an additional 40 shares during the period. Parallel Advisors LLC grew its stake in Pinnacle West Capital by 3.6% during the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock worth $186,000 after buying an additional 75 shares during the period. Sentry Investment Management LLC grew its stake in Pinnacle West Capital by 1.1% during the second quarter. Sentry Investment Management LLC now owns 8,646 shares of the utilities provider’s stock worth $736,000 after buying an additional 92 shares during the period. Finally, KBC Group NV grew its stake in Pinnacle West Capital by 0.3% during the second quarter. KBC Group NV now owns 35,085 shares of the utilities provider’s stock worth $2,988,000 after buying an additional 95 shares during the period. Institutional investors own 82.72% of the company’s stock.

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, September 11th. KeyCorp restated a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, September 1st. Morgan Stanley upped their target price on shares of Pinnacle West Capital from $83.00 to $86.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Finally, SunTrust Banks restated a “hold” rating and issued a $91.00 target price on shares of Pinnacle West Capital in a research note on Friday, November 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $87.20.

Pinnacle West Capital Co. (NYSE PNW) opened at $85.80 on Thursday. The firm has a market cap of $9,674.68, a price-to-earnings ratio of 18.70, a PEG ratio of 6.25 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Co. has a 52 week low of $75.79 and a 52 week high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a net margin of 14.67% and a return on equity of 10.31%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share. analysts anticipate that Pinnacle West Capital Co. will post 4.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be paid a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 3.24%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 60.04%.

In related news, CEO Donald E. Brandt sold 18,153 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $89.54, for a total value of $1,625,419.62. Following the sale, the chief executive officer now directly owns 118,574 shares of the company’s stock, valued at $10,617,115.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $179,812.44. Following the completion of the sale, the director now directly owns 12,786 shares in the company, valued at $1,142,684.82. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock worth $2,206,047 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

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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.

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

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