Rothschild Asset Management Inc. lowered its position in Pinnacle West Capital Corporation (NYSE:PNW) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,961 shares of the utilities provider’s stock after selling 68 shares during the period. Rothschild Asset Management Inc.’s holdings in Pinnacle West Capital Corporation were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PNW. WealthTrust Arizona LLC raised its position in 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 position in Pinnacle West Capital Corporation during the second quarter worth approximately $106,000. Tompkins Financial Corp raised its position 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 worth $113,000 after buying an additional 200 shares during the period. Amica Retiree Medical Trust raised its position 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 worth $125,000 after buying an additional 840 shares during the period. Finally, Pacer Advisors Inc. raised its position 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 worth $175,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Pinnacle West Capital Corporation (NYSE:PNW) opened at 88.53 on Friday. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $89.56. The stock has a market capitalization of $9.88 billion, a P/E ratio of 19.55 and a beta of 0.37. The company has a 50 day moving average of $86.48 and a 200 day moving average of $84.31.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results 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. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The company had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. During the same quarter in the prior year, the firm posted $1.08 EPS. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts expect that Pinnacle West Capital Corporation will post $4.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.62 annualized dividend and a yield of 2.96%. Pinnacle West Capital Corporation’s payout ratio is presently 57.96%.

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A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a research report on Thursday. BMO Capital Markets restated a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Royal Bank Of Canada restated a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $81.89.

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

Pinnacle West Capital Corporation 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 Corporation (NYSE:PNW)

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