Trexquant Investment LP boosted its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 108.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,300 shares of the utilities provider’s stock after buying an additional 4,311 shares during the period. Trexquant Investment LP’s holdings in Pinnacle West Capital Corporation were worth $707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp boosted 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 worth $113,000 after buying an additional 200 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new position in Pinnacle West Capital Corporation during the first quarter worth approximately $1,854,000. Lazard Asset Management LLC boosted its position in Pinnacle West Capital Corporation by 0.3% in the first quarter. Lazard Asset Management LLC now owns 151,331 shares of the utilities provider’s stock worth $12,617,000 after buying an additional 385 shares in the last quarter. BlackRock Inc. boosted its position in Pinnacle West Capital Corporation by 3,579.0% in the first quarter. BlackRock Inc. now owns 10,792,256 shares of the utilities provider’s stock worth $899,860,000 after buying an additional 10,498,905 shares in the last quarter. Finally, FDO Partners LLC purchased a new position in Pinnacle West Capital Corporation during the first quarter worth approximately $327,000. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pinnacle West Capital Corporation (PNW) opened at 88.53 on Friday. Pinnacle West Capital Corporation has a 52-week low of $70.86 and a 52-week high of $89.56. The firm’s 50-day moving average is $86.48 and its 200 day moving average is $84.31. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 19.55 and a beta of 0.37.

Pinnacle West Capital Corporation (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Equities analysts expect that Pinnacle West Capital Corporation will post $4.27 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 dividend of $0.655 per share. The ex-dividend date is Friday, July 28th. This represents a $2.62 annualized dividend and a yield of 2.96%. Pinnacle West Capital Corporation’s payout ratio is 57.96%.

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PNW has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research note on Monday, May 8th. BMO Capital Markets reissued a “hold” rating and issued a $86.00 target price on shares of Pinnacle West Capital Corporation in a research note on Wednesday, May 17th. BidaskClub cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $81.89.

In related news, SVP Barbara M. Gomez sold 1,900 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $84.00, for a total transaction of $159,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel T. Froetscher sold 2,800 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $87.31, for a total transaction of $244,468.00. Following the transaction, the senior vice president now owns 8,568 shares in the company, valued at $748,072.08. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

About Pinnacle West Capital Corporation

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.

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

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