Unigestion Holding SA grew its position in Pinnacle West Capital Co. (NYSE:PNW) by 51.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 766,655 shares of the utilities provider’s stock after acquiring an additional 261,525 shares during the period. Pinnacle West Capital comprises 2.1% of Unigestion Holding SA’s portfolio, making the stock its 14th largest holding. Unigestion Holding SA owned 0.68% of Pinnacle West Capital worth $74,419,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PNW. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Pinnacle West Capital by 63.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 162,326 shares of the utilities provider’s stock valued at $15,515,000 after acquiring an additional 63,204 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in Pinnacle West Capital during the second quarter worth about $289,000. Contravisory Investment Management Inc. purchased a new stake in Pinnacle West Capital during the second quarter worth about $322,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Pinnacle West Capital in the second quarter valued at about $1,781,000. Finally, 6 Meridian lifted its holdings in shares of Pinnacle West Capital by 1.9% in the second quarter. 6 Meridian now owns 5,677 shares of the utilities provider’s stock valued at $534,000 after purchasing an additional 107 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PNW traded down $1.43 during trading on Friday, reaching $86.39. The stock had a trading volume of 1,451,727 shares, compared to its average volume of 981,974. The business has a fifty day moving average price of $95.02 and a 200-day moving average price of $94.72. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.92. The stock has a market cap of $10.19 billion, a P/E ratio of 19.03, a PEG ratio of 3.11 and a beta of 0.06. Pinnacle West Capital Co. has a fifty-two week low of $81.63 and a fifty-two week high of $99.81.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.23). Pinnacle West Capital had a net margin of 13.84% and a return on equity of 9.33%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $2.80 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 4.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.7825 per share. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.13 annualized dividend and a yield of 3.62%. Pinnacle West Capital’s dividend payout ratio is 68.94%.

Several brokerages have issued reports on PNW. Bank of America downgraded shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a report on Friday. Credit Suisse Group upped their price target on shares of Pinnacle West Capital from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, October 7th. ValuEngine downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pinnacle West Capital in a report on Friday, August 9th. Finally, Argus raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, July 30th. Four research 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 an average price target of $95.83.

Pinnacle West Capital Profile

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 generating facilities. The company serves approximately 1.2 million customers.

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

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