Bp Plc held its position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the utilities provider’s stock at the end of the second quarter. Bp Plc’s holdings in Pinnacle West Capital Corporation were worth $1,192,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC increased its stake in shares of Pinnacle West Capital Corporation by 5.0% in the second quarter. Advisor Partners LLC now owns 4,554 shares of the utilities provider’s stock valued at $388,000 after buying an additional 217 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Pinnacle West Capital Corporation by 0.5% in the second quarter. Retirement Systems of Alabama now owns 54,090 shares of the utilities provider’s stock valued at $4,606,000 after buying an additional 271 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Pinnacle West Capital Corporation by 7.9% in the second quarter. IFP Advisors Inc now owns 2,730 shares of the utilities provider’s stock valued at $232,000 after buying an additional 200 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Pinnacle West Capital Corporation by 535.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 141,375 shares of the utilities provider’s stock valued at $12,040,000 after buying an additional 119,142 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Pinnacle West Capital Corporation during the second quarter valued at approximately $237,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Shares of Pinnacle West Capital Corporation (NYSE PNW) opened at 88.53 on Friday. The stock has a market cap of $9.88 billion, a P/E ratio of 19.55 and a beta of 0.37. The company’s 50-day moving average is $86.48 and its 200-day moving average is $84.31. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $89.56.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million during the quarter, compared to analyst estimates 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 quarterly 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. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post $4.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.655 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.96%. Pinnacle West Capital Corporation’s dividend payout ratio is currently 57.96%.

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Several analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a report on Thursday. BMO Capital Markets reiterated a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, 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. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $81.89.

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

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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