Sei Investments Co. raised its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 34.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,175 shares of the utilities provider’s stock after buying an additional 55,000 shares during the period. Sei Investments Co. owned 0.19% of Pinnacle West Capital Corporation worth $18,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthTrust Arizona LLC raised its position in Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock valued at $104,000 after buying an additional 9 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Pinnacle West Capital Corporation during the second quarter valued at approximately $106,000. Amica Retiree Medical Trust raised its position in Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares during the last quarter. Tompkins Financial Corp raised its position in Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Pinnacle West Capital Corporation by 8.9% in the first quarter. Parallel Advisors LLC now owns 2,069 shares of the utilities provider’s stock valued at $175,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.

Shares of Pinnacle West Capital Corporation (PNW) opened at 88.06 on Friday. The stock’s 50 day moving average is $86.49 and its 200-day moving average is $83.82. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 21.39 and a beta of 0.37. Pinnacle West Capital Corporation has a 1-year low of $70.86 and a 1-year high of $89.56.

Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.33. The business had revenue of $944.59 million for the quarter, compared to analysts’ expectations of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.21% and a net margin of 14.37%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 earnings per share. On average, analysts anticipate that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is 57.96%.

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Several research analysts recently commented on the stock. BMO Capital Markets restated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a report on Friday. Royal Bank Of Canada restated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Morgan Stanley cut their price target on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $81.78.

In related news, Director Denis A. Cortese sold 1,776 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $83.85, for a total value of $148,917.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel T. Froetscher sold 2,800 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $87.31, for a total value of $244,468.00. Following the completion of the transaction, the senior vice president now owns 8,568 shares in the company, valued at approximately $748,072.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,476 shares of company stock worth $552,986. 0.70% of the stock is owned by company insiders.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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

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