BNP Paribas Arbitrage SA lessened its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,316 shares of the utilities provider’s stock after selling 11,554 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.16% of Pinnacle West Capital Corporation worth $15,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. WealthTrust Arizona LLC increased its holdings in Pinnacle West Capital Corporation by 0.7% in the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 9 shares during the last quarter. Captrust Financial Advisors bought a new stake in Pinnacle West Capital Corporation in the second quarter valued at about $109,000. Parallel Advisors LLC increased its holdings in Pinnacle West Capital Corporation 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 purchasing an additional 75 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Pinnacle West Capital Corporation 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 purchasing an additional 174 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in Pinnacle West Capital Corporation in the third quarter valued at about $205,000. Institutional investors and hedge funds own 85.15% of the company’s stock.

Pinnacle West Capital Corporation (NYSE:PNW) traded down $1.05 during mid-day trading on Monday, hitting $88.34. The stock had a trading volume of 731,300 shares, compared to its average volume of 678,957. 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 firm has a market capitalization of $9,920.00, a PE ratio of 19.08, a P/E/G ratio of 6.40 and a beta of 0.38. 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 posted its quarterly earnings data 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. The company had revenue of $1.18 billion during 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 revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share. sell-side analysts anticipate that Pinnacle West Capital Corporation will post 4.27 earnings per share for the current fiscal 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. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. This represents a $2.78 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Tuesday, October 31st. Pinnacle West Capital Corporation’s dividend payout ratio is currently 60.04%.

Several equities research analysts have issued reports on the company. SunTrust Banks, Inc. restated a “hold” rating and issued a $88.00 price target on shares of Pinnacle West Capital Corporation in a report on Monday, October 30th. Zacks Investment Research upgraded Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Thursday, October 26th. Bank of America Corporation assumed coverage on Pinnacle West Capital Corporation in a report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price target for the company. Credit Suisse Group assumed coverage on Pinnacle West Capital Corporation in a report on Wednesday, September 20th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Morgan Stanley increased their price target on Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Pinnacle West Capital Corporation presently has a consensus rating of “Hold” and a consensus price target of $86.40.

In other news, EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $89.98, for a total transaction of $413,908.00. Following the completion of the transaction, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at $3,854,743.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn L. Munro sold 1,806 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $90.28, for a total value of $163,045.68. Following the transaction, the director now directly owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The disclosure for this sale can be found here. Insiders have sold 41,419 shares of company stock valued at $3,713,068 over the last ninety days. 0.70% of the stock is owned by insiders.

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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.

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

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