Public Employees Retirement Association of Colorado decreased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 21,568 shares of the utilities provider’s stock after selling 16 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Pinnacle West Capital Corporation were worth $1,837,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. WealthTrust Arizona LLC boosted its position in shares of Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock worth $104,000 after buying an additional 9 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Pinnacle West Capital Corporation during the second quarter valued at approximately $106,000. Tompkins Financial Corp boosted its stake in Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. Amica Retiree Medical Trust boosted its stake in Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock valued at $175,000 after buying an additional 66 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Corporation (NYSE PNW) opened at 88.97 on Friday. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $89.56. The firm has a 50 day moving average of $86.47 and a 200-day moving average of $84.23. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 19.65 and a beta of 0.37.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.33. The firm had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. Equities research analysts forecast that Pinnacle West Capital Corporation will post $4.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid a $0.655 dividend. The ex-dividend date is Friday, July 28th. This represents a $2.62 annualized dividend and a yield of 2.94%. Pinnacle West Capital Corporation’s dividend payout ratio is presently 57.96%.

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PNW has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating for the company in a research note on Monday, May 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $86.00 target price on shares of Pinnacle West Capital Corporation in a research note on Wednesday, May 17th. BidaskClub cut shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $81.89.

In other Pinnacle West Capital Corporation news, SVP Daniel T. Froetscher sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $87.31, for a total value of $244,468.00. Following the transaction, the senior vice president now owns 8,568 shares in the company, valued at approximately $748,072.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Barbara M. Gomez sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $84.00, for a total transaction of $159,600.00. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

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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