Williams Jones & Associates LLC decreased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,403 shares of the utilities provider’s stock after selling 200 shares during the quarter. Williams Jones & Associates LLC’s holdings in Pinnacle West Capital Corporation were worth $630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Pinnacle West Capital Corporation by 4.6% during the 2nd quarter. Royal Bank of Canada now owns 325,564 shares of the utilities provider’s stock valued at $27,724,000 after acquiring an additional 14,264 shares in the last quarter. AHL Partners LLP acquired a new stake in shares of Pinnacle West Capital Corporation during the 2nd quarter valued at $635,000. Goldman Sachs Group Inc. boosted its holdings in shares of Pinnacle West Capital Corporation by 27.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,351,968 shares of the utilities provider’s stock valued at $285,454,000 after acquiring an additional 716,993 shares in the last quarter. Clinton Group Inc. acquired a new stake in shares of Pinnacle West Capital Corporation during the 2nd quarter valued at $1,188,000. Finally, Balyasny Asset Management LLC boosted its holdings in shares of Pinnacle West Capital Corporation by 10.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 458,265 shares of the utilities provider’s stock valued at $39,026,000 after acquiring an additional 42,834 shares in the last quarter. 84.20% of the stock is currently owned by institutional investors.

Shares of Pinnacle West Capital Corporation (NYSE PNW) traded down 0.26% on Thursday, reaching $85.56. The company’s stock had a trading volume of 28,766 shares. Pinnacle West Capital Corporation has a 12 month low of $70.86 and a 12 month high of $90.92. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 18.90 and a beta of 0.36. The stock has a 50 day moving average of $88.34 and a 200-day moving average of $86.62.

Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The business had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

In other Pinnacle West Capital Corporation news, Chairman Donald E. Brandt sold 35,013 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the completion of the sale, the chairman now directly owns 118,574 shares in the company, valued at $10,620,673.18. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the sale, the director now owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,419 shares of company stock valued at $3,713,068. Company insiders own 0.70% of the company’s stock.

PNW has been the topic of several recent research reports. BidaskClub downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Finally, Morgan Stanley lifted their target price on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Pinnacle West Capital Corporation currently has a consensus rating of “Hold” and a consensus target price of $85.11.

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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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