Allianz Asset Management GmbH raised its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,199 shares of the utilities provider’s stock after purchasing an additional 3,754 shares during the period. Allianz Asset Management GmbH owned 0.32% of Pinnacle West Capital worth $29,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors purchased a new stake in Pinnacle West Capital during the second quarter valued at approximately $109,000. Parallel Advisors LLC raised its position in Pinnacle West Capital by 3.6% during the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 75 shares during the period. Pacer Advisors Inc. raised its position in Pinnacle West Capital by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 174 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in Pinnacle West Capital during the third quarter valued at approximately $205,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Pinnacle West Capital during the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

In other news, CEO Donald E. Brandt sold 18,153 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.54, for a total value of $1,625,419.62. Following the sale, the chief executive officer now directly owns 118,574 shares in the company, valued at $10,617,115.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael L. Gallagher sold 2,012 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

A number of equities research analysts have issued reports on the company. Bank of America assumed coverage on Pinnacle West Capital in a research report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price objective on the stock. Credit Suisse Group assumed coverage on Pinnacle West Capital in a research report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, September 1st. SunTrust Banks restated a “hold” rating and set a $84.00 price objective on shares of Pinnacle West Capital in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $89.00 price objective 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 issued a hold rating and three have assigned a buy rating to the stock. Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $86.70.

Shares of Pinnacle West Capital Co. (NYSE:PNW) traded up $0.65 during midday trading on Friday, hitting $90.75. The stock had a trading volume of 413,252 shares, compared to its average volume of 654,182. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90. Pinnacle West Capital Co. has a 12-month low of $74.46 and a 12-month high of $92.48. The stock has a market capitalization of $10,140.00, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 6.57 and a beta of 0.38.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were issued a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 3.06%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, October 31st. Pinnacle West Capital’s dividend payout ratio is presently 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.

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

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