Fox Run Management L.L.C. decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 21.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,654 shares of the utilities provider’s stock after selling 2,946 shares during the period. Fox Run Management L.L.C.’s holdings in Pinnacle West Capital were worth $908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banced Corp bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $201,000. Stock Yards Bank & Trust Co. bought a new position in shares of Pinnacle West Capital during the third quarter valued at approximately $205,000. Krilogy Financial LLC bought a new position in shares of Pinnacle West Capital during the third quarter valued at approximately $211,000. Quantitative Systematic Strategies LLC bought a new position in shares of Pinnacle West Capital during the third quarter valued at approximately $214,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Pinnacle West Capital during the second quarter valued at approximately $244,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $79.21 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $8,885.87, a P/E ratio of 17.11, a P/E/G ratio of 5.68 and a beta of 0.38. Pinnacle West Capital Co. has a twelve month low of $75.79 and a twelve month high of $92.48.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. Pinnacle West Capital’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.35 earnings per share. research analysts expect that Pinnacle West Capital Co. will post 4.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a $0.695 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.51%. Pinnacle West Capital’s payout ratio is 60.04%.

PNW has been the topic of a number of analyst reports. Zacks Investment Research raised Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Thursday, October 26th. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. SunTrust Banks reiterated a “hold” rating and issued a $91.00 price target on shares of Pinnacle West Capital in a report on Friday, November 24th. Finally, Bank of America started coverage on Pinnacle West Capital in a report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $87.11.

In other Pinnacle West Capital news, Director Michael L. Gallagher sold 2,012 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the completion of the sale, the director now owns 12,786 shares in the company, valued at $1,142,684.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now owns 40,838 shares of the company’s stock, valued at approximately $3,637,440.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,665 shares of company stock valued at $2,206,047. 0.70% of the stock is owned by company insiders.

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About Pinnacle West Capital

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 (NYSE:PNW)

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