DekaBank Deutsche Girozentrale boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,442 shares of the utilities provider’s stock after purchasing an additional 1,312 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Pinnacle West Capital were worth $707,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PNW. BlackRock Inc. boosted its holdings in shares of Pinnacle West Capital by 13.7% during the 2nd quarter. BlackRock Inc. now owns 13,632,290 shares of the utilities provider’s stock valued at $1,098,218,000 after acquiring an additional 1,642,393 shares during the last quarter. Boston Partners boosted its holdings in shares of Pinnacle West Capital by 2.6% during the 2nd quarter. Boston Partners now owns 3,686,438 shares of the utilities provider’s stock valued at $296,979,000 after acquiring an additional 93,700 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Pinnacle West Capital by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 2,910,120 shares of the utilities provider’s stock valued at $230,423,000 after acquiring an additional 261,996 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Pinnacle West Capital by 34.1% during the 2nd quarter. Millennium Management LLC now owns 2,496,216 shares of the utilities provider’s stock valued at $201,095,000 after acquiring an additional 634,929 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Pinnacle West Capital by 16.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,431,121 shares of the utilities provider’s stock valued at $113,316,000 after acquiring an additional 206,126 shares during the last quarter. 82.42% of the stock is currently owned by institutional investors.

In other news, Chairman Donald E. Brandt sold 15,876 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $88.59, for a total value of $1,406,454.84. Following the transaction, the chairman now owns 77,310 shares in the company, valued at approximately $6,848,892.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Denise R. Danner sold 3,320 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $88.78, for a total transaction of $294,749.60. Following the completion of the transaction, the vice president now owns 8,759 shares in the company, valued at approximately $777,624.02. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Shares of NYSE:PNW opened at $90.78 on Friday. Pinnacle West Capital Co. has a twelve month low of $73.41 and a twelve month high of $91.37. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $10.10 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 4.50 and a beta of 0.08.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, November 8th. The utilities provider reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.05. Pinnacle West Capital had a net margin of 13.71% and a return on equity of 9.68%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Pinnacle West Capital Co. will post 4.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st were paid a $0.7375 dividend. This represents a $2.95 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Wednesday, October 31st. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. Pinnacle West Capital’s dividend payout ratio is 67.82%.

A number of analysts have recently issued reports on PNW shares. Wells Fargo & Co dropped their price target on shares of Pinnacle West Capital from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Sunday, September 30th. Goldman Sachs Group raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating in a report on Thursday, October 18th. Barclays started coverage on shares of Pinnacle West Capital in a report on Monday, October 22nd. They set a “hold” rating and a $86.00 price target on the stock. Credit Suisse Group raised their price target on shares of Pinnacle West Capital from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, October 12th. Finally, ValuEngine raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $86.00.

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About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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

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