Strs Ohio increased its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 22.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,745 shares of the utilities provider’s stock after buying an additional 4,157 shares during the period. Strs Ohio’s holdings in Pinnacle West Capital Corporation were worth $1,936,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WealthTrust Arizona LLC increased its stake 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 valued at $104,000 after buying an additional 9 shares in the last quarter. ING Groep NV increased its stake in shares of Pinnacle West Capital Corporation by 0.6% in the second quarter. ING Groep NV now owns 5,708 shares of the utilities provider’s stock valued at $486,000 after buying an additional 34 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Pinnacle West Capital Corporation by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 3,928 shares of the utilities provider’s stock worth $334,000 after buying an additional 39 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Pinnacle West Capital Corporation by 2.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,315 shares of the utilities provider’s stock worth $193,000 after buying an additional 50 shares during the period. Finally, Mirador Capital Partners LP increased its stake in Pinnacle West Capital Corporation by 1.8% in the first quarter. Mirador Capital Partners LP now owns 2,923 shares of the utilities provider’s stock worth $244,000 after buying an additional 52 shares during the period. 83.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Pinnacle West Capital Corporation (NYSE PNW) opened at 88.97 on Friday. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $89.56. The firm has a market cap of $9.93 billion, a P/E ratio of 19.65 and a beta of 0.37. The firm has a 50-day moving average price of $86.47 and a 200-day moving average price of $84.23.

Pinnacle West Capital Corporation (NYSE:PNW) last announced 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 business had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts expect that Pinnacle West Capital Corporation will post $4.26 earnings per share for the current fiscal year.

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

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A number of equities research analysts have commented on PNW shares. BMO Capital Markets reissued a “hold” rating and issued a $86.00 target price on shares of Pinnacle West Capital Corporation in a report on Wednesday, May 17th. Zacks Investment Research downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Morgan Stanley reduced their target price on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating for the company in a report on Monday, May 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Finally, BidaskClub raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $81.89.

In other news, SVP Daniel T. Froetscher sold 2,800 shares of the company’s 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 $748,072.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Barbara M. Gomez sold 1,900 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $84.00, for a total value of $159,600.00. 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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