Ronna Sue Cohen cut its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,626 shares of the utilities provider’s stock after selling 231 shares during the period. Ronna Sue Cohen’s holdings in Pinnacle West Capital were worth $1,502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mackey Komara & Dankovich LLC acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $30,000. Bartlett & Co. LLC acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its position in shares of Pinnacle West Capital by 100.0% in the fourth quarter. Sound Income Strategies LLC now owns 600 shares of the utilities provider’s stock valued at $51,000 after buying an additional 300 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Pinnacle West Capital by 43.2% in the fourth quarter. First Mercantile Trust Co. now owns 1,060 shares of the utilities provider’s stock valued at $90,000 after buying an additional 320 shares during the last quarter. Finally, ETF Managers Group LLC lifted its position in shares of Pinnacle West Capital by 19.4% in the fourth quarter. ETF Managers Group LLC now owns 1,685 shares of the utilities provider’s stock valued at $144,000 after buying an additional 274 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Denise R. Danner sold 3,320 shares of Pinnacle West Capital stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $88.78, for a total value of $294,749.60. Following the completion of the transaction, the vice president now directly owns 8,759 shares of the company’s stock, valued at approximately $777,624.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Donald E. Brandt sold 15,876 shares of Pinnacle West Capital stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $88.59, for a total value of $1,406,454.84. Following the completion of the transaction, the chairman now directly owns 77,310 shares of the company’s stock, valued at $6,848,892.90. The disclosure for this sale can be found here. Insiders have sold a total of 23,896 shares of company stock worth $2,129,938 over the last ninety days. Company insiders own 0.53% of the company’s stock.

NYSE PNW opened at $89.38 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.52 and a current ratio of 0.70. Pinnacle West Capital Co. has a twelve month low of $73.41 and a twelve month high of $92.64. The firm has a market cap of $10.02 billion, a P/E ratio of 20.55, a PEG ratio of 3.97 and a beta of 0.19.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, November 8th. The utilities provider reported $2.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.05. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.15 billion. Pinnacle West Capital had a return on equity of 9.68% and a net margin of 13.71%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. On average, analysts forecast that Pinnacle West Capital Co. will post 4.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be issued a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, January 31st. Pinnacle West Capital’s payout ratio is presently 67.82%.

A number of equities analysts have recently weighed in on the company. ValuEngine lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Barclays set a $90.00 price objective on Pinnacle West Capital and gave the stock a “hold” rating in a research note on Saturday, November 17th. Wolfe Research lowered Pinnacle West Capital from a “market perform” rating to an “underperform” rating and set a $83.00 price objective on the stock. in a research note on Tuesday, January 22nd. SunTrust Banks lifted their price target on Pinnacle West Capital to $90.00 and gave the company an “average” rating in a research note on Friday, November 9th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lowered Pinnacle West Capital from an “outperform” rating to a “market perform” rating and set a $87.36 price target on the stock. in a research note on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.78.

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About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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

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