Mutual of America Capital Management LLC Increases Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Mutual of America Capital Management LLC increased its holdings in Pinnacle West Capital Co. (NYSE:PNWGet Rating) by 1.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 15,056 shares of the utilities provider’s stock after acquiring an additional 161 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pinnacle West Capital were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in shares of Pinnacle West Capital by 28.5% in the first quarter. Parallel Advisors LLC now owns 671 shares of the utilities provider’s stock worth $52,000 after buying an additional 149 shares during the last quarter. NovaPoint Capital LLC boosted its holdings in shares of Pinnacle West Capital by 4.9% in the first quarter. NovaPoint Capital LLC now owns 3,462 shares of the utilities provider’s stock worth $270,000 after buying an additional 161 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Pinnacle West Capital by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 67,830 shares of the utilities provider’s stock worth $5,297,000 after buying an additional 170 shares during the last quarter. Regentatlantic Capital LLC boosted its holdings in shares of Pinnacle West Capital by 5.1% in the first quarter. Regentatlantic Capital LLC now owns 3,883 shares of the utilities provider’s stock worth $303,000 after buying an additional 188 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Pinnacle West Capital by 19.8% in the first quarter. Daiwa Securities Group Inc. now owns 1,255 shares of the utilities provider’s stock worth $98,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

Pinnacle West Capital Trading Up 0.9 %

Pinnacle West Capital stock opened at $73.47 on Friday. The stock has a market cap of $8.30 billion, a P/E ratio of 13.86 and a beta of 0.33. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.00 and a quick ratio of 0.76. Pinnacle West Capital Co. has a 1 year low of $62.78 and a 1 year high of $85.34. The firm’s 50 day moving average price is $72.61 and its 200-day moving average price is $73.08.

Pinnacle West Capital (NYSE:PNWGet Rating) last posted its earnings results on Wednesday, May 4th. The utilities provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.10. Pinnacle West Capital had a net margin of 15.42% and a return on equity of 9.96%. The firm had revenue of $783.53 million during the quarter, compared to analyst estimates of $692.73 million. During the same period last year, the firm posted $0.32 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Pinnacle West Capital Co. will post 3.98 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 1st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Friday, July 29th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 64.15%.

Analyst Ratings Changes

A number of research firms recently issued reports on PNW. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 26th. UBS Group decreased their target price on shares of Pinnacle West Capital from $74.00 to $67.00 and set a “sell” rating on the stock in a research note on Thursday, June 30th. Royal Bank of Canada raised their target price on shares of Pinnacle West Capital from $76.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Monday, April 4th. KeyCorp raised their target price on shares of Pinnacle West Capital from $62.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 20th. Finally, Credit Suisse Group assumed coverage on shares of Pinnacle West Capital in a research note on Monday, April 25th. They set an “underperform” rating and a $73.00 target price on the stock. Seven analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $71.62.

Insider Activity at Pinnacle West Capital

In related news, SVP Barbara D. Lockwood sold 3,489 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $74.25, for a total value of $259,058.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

About Pinnacle West Capital

(Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities.

See Also

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNWGet Rating).



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