Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Duality Advisers LP

Duality Advisers LP cut its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,900 shares of the utilities provider’s stock after selling 10,530 shares during the period. Duality Advisers LP owned about 0.07% of Pinnacle West Capital worth $7,159,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Pinnacle West Capital by 7.2% during the 4th quarter. BlackRock Inc. now owns 13,836,804 shares of the utilities provider’s stock worth $1,178,896,000 after purchasing an additional 928,749 shares during the period. Vanguard Group Inc boosted its stake in shares of Pinnacle West Capital by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 12,162,967 shares of the utilities provider’s stock worth $963,063,000 after purchasing an additional 155,601 shares during the period. American Century Companies Inc. boosted its position in Pinnacle West Capital by 2.6% in the 4th quarter. American Century Companies Inc. now owns 2,984,645 shares of the utilities provider’s stock valued at $254,292,000 after buying an additional 74,525 shares during the period. Ronna Sue Cohen boosted its position in Pinnacle West Capital by 9,363.1% in the 1st quarter. Ronna Sue Cohen now owns 1,667,971 shares of the utilities provider’s stock valued at $1,668,000 after buying an additional 1,650,345 shares during the period. Finally, Northern Trust Corp boosted its position in Pinnacle West Capital by 7.5% in the 1st quarter. Northern Trust Corp now owns 1,587,022 shares of the utilities provider’s stock valued at $151,686,000 after buying an additional 110,727 shares during the period. Hedge funds and other institutional investors own 85.17% of the company’s stock.

In related news, Director Denis A. Cortese sold 3,014 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $94.12, for a total transaction of $283,677.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Gallagher sold 5,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $95.90, for a total transaction of $479,500.00. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on PNW shares. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Monday, May 20th. Morgan Stanley lowered shares of Pinnacle West Capital from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $98.00 to $90.00 in a report on Wednesday, June 12th. Williams Capital restated a “hold” rating on shares of Pinnacle West Capital in a report on Monday, March 18th. ValuEngine lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Credit Suisse Group set a $102.00 price objective on shares of Pinnacle West Capital and gave the stock a “buy” rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $93.36.

Pinnacle West Capital stock traded up $0.35 during mid-day trading on Friday, reaching $94.09. 1,304,397 shares of the company traded hands, compared to its average volume of 1,080,668. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 0.92. Pinnacle West Capital Co. has a fifty-two week low of $77.19 and a fifty-two week high of $99.81. The firm has a market capitalization of $10.56 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 3.87 and a beta of 0.20. The company has a fifty day moving average price of $96.19.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $740.53 million during the quarter, compared to analysts’ expectations of $718.60 million. Pinnacle West Capital had a net margin of 14.06% and a return on equity of 9.84%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Research analysts anticipate that Pinnacle West Capital Co. will post 4.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $0.738 dividend. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, July 31st. Pinnacle West Capital’s dividend payout ratio is 64.98%.

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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