Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System boosted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 229,580 shares of the utilities provider’s stock after purchasing an additional 2,605 shares during the period. California State Teachers Retirement System’s holdings in Pinnacle West Capital were worth $16,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNW. Brand Asset Management Group Inc. acquired a new stake in Pinnacle West Capital during the 2nd quarter worth about $26,000. Smithfield Trust Co. grew its position in Pinnacle West Capital by 189.1% during the 2nd quarter. Smithfield Trust Co. now owns 451 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 295 shares during the period. Mondrian Investment Partners LTD purchased a new stake in shares of Pinnacle West Capital during the 2nd quarter worth about $47,000. PrairieView Partners LLC boosted its stake in shares of Pinnacle West Capital by 40.0% during the 2nd quarter. PrairieView Partners LLC now owns 700 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 200 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Pinnacle West Capital during the 2nd quarter worth about $51,000. 83.69% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Pinnacle West Capital in a research note on Thursday, August 6th. Goldman Sachs Group raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, June 15th. Barclays raised shares of Pinnacle West Capital from an “equal weight” rating to an “overweight” rating and set a $89.00 target price on the stock in a research note on Thursday, June 18th. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, ValuEngine lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $89.11.

PNW opened at $72.16 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.54. The company’s 50 day simple moving average is $76.25 and its two-hundred day simple moving average is $77.23. Pinnacle West Capital Co. has a 1-year low of $60.05 and a 1-year high of $105.51. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 3.13 and a beta of 0.29.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.23. Pinnacle West Capital had a net margin of 17.37% and a return on equity of 10.69%. The business had revenue of $929.50 million for the quarter, compared to analyst estimates of $915.14 million. During the same period last year, the company posted $1.28 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Pinnacle West Capital Co. will post 4.82 earnings per share for the current fiscal year.

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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