GSA Capital Partners LLP Purchases Shares of 5,823 Pinnacle West Capital Co. (PNW)
GSA Capital Partners LLP purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,823 shares of the utilities provider’s stock, valued at approximately $496,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $26,000. Mackey Komara & Dankovich LLC bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $30,000. Bartlett & Co. LLC bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $30,000. Old North State Trust LLC increased its holdings in Pinnacle West Capital by 316.7% during the 4th quarter. Old North State Trust LLC now owns 400 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 304 shares during the period. Finally, Riverview Trust Co bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 84.71% of the company’s stock.
A number of analysts recently weighed in on the stock. Credit Suisse Group upped their target price on shares of Pinnacle West Capital from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. Royal Bank of Canada lowered shares of Pinnacle West Capital from an “outperform” rating to a “sector perform” rating and set a $93.00 target price on the stock. in a report on Friday, March 1st. Goldman Sachs Group lowered shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. Barclays set a $90.00 target price on shares of Pinnacle West Capital and gave the stock a “hold” rating in a report on Saturday, November 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Pinnacle West Capital in a report on Monday, December 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.55.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Friday, February 22nd. The utilities provider reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. Pinnacle West Capital had a net margin of 13.85% and a return on equity of 9.67%. The business had revenue of $756.40 million during the quarter, compared to analysts’ expectations of $703.26 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 4.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 1st were paid a $0.7375 dividend. The ex-dividend date was Thursday, January 31st. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.10%. Pinnacle West Capital’s dividend payout ratio (DPR) is 64.98%.
In other Pinnacle West Capital news, VP Lee R. Nickloy sold 1,000 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $93.50, for a total transaction of $93,500.00. Following the completion of the sale, the vice president now owns 931 shares of the company’s stock, valued at approximately $87,048.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey B. Guldner sold 1,395 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $92.46, for a total transaction of $128,981.70. Following the sale, the executive vice president now directly owns 19,409 shares of the company’s stock, valued at approximately $1,794,556.14. The disclosure for this sale can be found here. Insiders sold a total of 42,048 shares of company stock valued at $3,906,472 in the last ninety days. 0.53% of the stock is owned by corporate insiders.
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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