Great West Life Assurance Co. Can lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 20.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,264 shares of the utilities provider’s stock after selling 22,682 shares during the quarter. Great West Life Assurance Co. Can owned about 0.08% of Pinnacle West Capital worth $7,481,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in Pinnacle West Capital in the second quarter valued at about $109,000. Parallel Advisors LLC lifted its position in Pinnacle West Capital by 3.6% in the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares during the last quarter. Pacer Advisors Inc. lifted its position in Pinnacle West Capital by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in Pinnacle West Capital in the third quarter valued at about $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Pinnacle West Capital during the third quarter worth about $214,000. 82.80% of the stock is currently owned by institutional investors.

PNW has been the topic of several research reports. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday, October 26th. ValuEngine raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. BidaskClub raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. KeyCorp reissued a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $86.70.

In related news, Director Michael L. Gallagher sold 2,012 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $89.37, for a total value of $179,812.44. Following the sale, the director now owns 12,786 shares of the company’s stock, valued at $1,142,684.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald E. Brandt sold 18,153 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $89.54, for a total transaction of $1,625,419.62. Following the completion of the sale, the chief executive officer now directly owns 118,574 shares in the company, valued at approximately $10,617,115.96. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Shares of Pinnacle West Capital Co. (NYSE PNW) traded up $0.57 on Thursday, hitting $89.91. 497,100 shares of the stock traded hands, compared to its average volume of 676,341. The firm has a market capitalization of $10,050.00, a PE ratio of 19.30, a PEG ratio of 6.47 and a beta of 0.38. Pinnacle West Capital Co. has a 1-year low of $74.07 and a 1-year high of $92.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.90 and a quick ratio of 0.68.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 14.67% and a return on equity of 10.31%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 earnings per share. equities research analysts forecast that Pinnacle West Capital Co. will post 4.27 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 1st were issued a $0.695 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, October 31st. This represents a $2.78 annualized dividend and a yield of 3.09%. Pinnacle West Capital’s dividend payout ratio (DPR) is 60.04%.

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Pinnacle West Capital 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 (NYSE:PNW)

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