Yousif Capital Management LLC Buys 1,796 Shares of Pinnacle West Capital Corporation $PNW

Yousif Capital Management LLC lifted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.2% during the second quarter, HoldingsChannel reports. The firm owned 26,700 shares of the utilities provider’s stock after acquiring an additional 1,796 shares during the quarter. Yousif Capital Management LLC’s holdings in Pinnacle West Capital were worth $2,389,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its stake in Pinnacle West Capital by 6.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,833 shares of the utilities provider’s stock valued at $1,148,000 after acquiring an additional 735 shares during the period. Maryland State Retirement & Pension System raised its stake in Pinnacle West Capital by 9.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 5,790 shares of the utilities provider’s stock valued at $518,000 after acquiring an additional 484 shares during the period. WESPAC Advisors LLC raised its stake in Pinnacle West Capital by 4.8% in the 2nd quarter. WESPAC Advisors LLC now owns 9,209 shares of the utilities provider’s stock valued at $824,000 after acquiring an additional 425 shares during the period. Valeo Financial Advisors LLC bought a new stake in Pinnacle West Capital in the 2nd quarter valued at $211,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Pinnacle West Capital by 15.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 14,861 shares of the utilities provider’s stock valued at $1,330,000 after acquiring an additional 1,955 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PNW shares. Barclays increased their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Wednesday, October 8th. Mizuho cut Pinnacle West Capital from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $102.00 to $90.00 in a research note on Tuesday, September 9th. UBS Group upped their price objective on Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, TD Cowen started coverage on Pinnacle West Capital in a report on Thursday. They issued a “hold” rating and a $97.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.42.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,496 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the sale, the executive vice president directly owned 56 shares of the company’s stock, valued at approximately $5,172.72. This represents a 99.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $93.15 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. The stock’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $90.77. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 9.63 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.58. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.Pinnacle West Capital’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. On average, equities analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.