Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,615,338 shares of the utilities provider’s stock after purchasing an additional 28,316 shares during the quarter. Northern Trust Corp owned approximately 1.44% of Pinnacle West Capital worth $151,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PNW. Geode Capital Management LLC grew its position in shares of Pinnacle West Capital by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 1,530,593 shares of the utilities provider’s stock worth $130,192,000 after acquiring an additional 117,893 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Pinnacle West Capital by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 484,326 shares of the utilities provider’s stock worth $41,265,000 after acquiring an additional 7,360 shares during the last quarter. HL Financial Services LLC grew its position in shares of Pinnacle West Capital by 16.5% during the first quarter. HL Financial Services LLC now owns 2,874 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 408 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Pinnacle West Capital by 1.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 162,119 shares of the utilities provider’s stock worth $15,495,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Pinnacle West Capital by 2.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 10,279 shares of the utilities provider’s stock worth $982,000 after acquiring an additional 221 shares during the last quarter. 88.15% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley set a $92.00 target price on shares of Pinnacle West Capital and gave the stock a “sell” rating in a research report on Friday, August 16th. Wells Fargo & Co restated a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, August 9th. UBS Group lowered their target price on shares of Pinnacle West Capital from $103.00 to $99.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Williams Capital restated a “hold” rating and set a $97.00 target price (up from $87.00) on shares of Pinnacle West Capital in a research report on Monday, August 12th. Finally, Evercore ISI lowered shares of Pinnacle West Capital from an “in-line” rating to an “underperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.33.



NYSE:PNW traded down $0.02 during midday trading on Thursday, reaching $93.13. The stock had a trading volume of 45,858 shares, compared to its average volume of 1,008,229. The firm has a fifty day simple moving average of $93.49 and a two-hundred day simple moving average of $94.63. Pinnacle West Capital Co. has a 12-month low of $77.19 and a 12-month high of $99.81. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.92. The stock has a market cap of $10.38 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.19 and a beta of 0.12.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.15). The firm had revenue of $869.50 million during the quarter, compared to analysts’ expectations of $973.16 million. Pinnacle West Capital had a net margin of 13.84% and a return on equity of 9.33%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the business earned $1.48 earnings per share. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were given a dividend of $0.738 per share. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, July 31st. Pinnacle West Capital’s payout ratio is presently 64.98%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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

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