Candriam Luxembourg S.C.A. increased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 20.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,967 shares of the utilities provider’s stock after acquiring an additional 29,592 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.15% of Pinnacle West Capital Corporation worth $14,457,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNW. Vanguard Group Inc. boosted its position in shares of Pinnacle West Capital Corporation by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 11,774,150 shares of the utilities provider’s stock valued at $1,002,686,000 after purchasing an additional 496,727 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Pinnacle West Capital Corporation by 27.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,351,968 shares of the utilities provider’s stock valued at $285,454,000 after purchasing an additional 716,993 shares during the period. Boston Partners boosted its position in shares of Pinnacle West Capital Corporation by 37.6% in the 3rd quarter. Boston Partners now owns 2,824,466 shares of the utilities provider’s stock valued at $238,837,000 after purchasing an additional 771,900 shares during the period. American Century Companies Inc. boosted its position in shares of Pinnacle West Capital Corporation by 3.8% in the 3rd quarter. American Century Companies Inc. now owns 2,610,779 shares of the utilities provider’s stock valued at $220,767,000 after purchasing an additional 94,914 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Pinnacle West Capital Corporation by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock valued at $167,166,000 after purchasing an additional 5,092 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Kathryn L. Munro sold 1,806 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $90.28, for a total value of $163,045.68. Following the sale, the director now owns 17,852 shares of the company’s stock, valued at approximately $1,611,678.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Donald E. Brandt sold 35,013 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total value of $3,136,114.41. Following the completion of the sale, the chairman now directly owns 118,574 shares in the company, valued at approximately $10,620,673.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,419 shares of company stock worth $3,713,068. 0.70% of the stock is currently owned by company insiders.

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Shares of Pinnacle West Capital Corporation (PNW) traded down $1.05 during midday trading on Friday, reaching $88.34. The company’s stock had a trading volume of 731,358 shares, compared to its average volume of 691,956. The company has a market cap of $9,987.53, a P/E ratio of 19.31, a P/E/G ratio of 6.47 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.48 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Corporation has a 52 week low of $72.15 and a 52 week high of $90.92.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital Corporation had a return on equity of 10.31% and a net margin of 14.67%. Pinnacle West Capital Corporation’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 earnings per share. sell-side analysts expect that Pinnacle West Capital Corporation will post 4.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, October 31st. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.15%. Pinnacle West Capital Corporation’s payout ratio is currently 60.04%.

A number of equities analysts recently weighed in on PNW shares. Zacks Investment Research upgraded Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, September 11th. BidaskClub upgraded Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets restated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Royal Bank Of Canada restated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. Finally, KeyCorp restated a “hold” rating on shares of Pinnacle West Capital Corporation in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Pinnacle West Capital Corporation presently has a consensus rating of “Hold” and a consensus target price of $86.40.

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.

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

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