GSA Capital Partners LLP Acquires Shares of 5,823 Pinnacle West Capital Co. (PNW)

GSA Capital Partners LLP acquired a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,823 shares of the utilities provider’s stock, valued at approximately $496,000.

Several other institutional investors also recently added to or reduced their stakes in PNW. Robeco Institutional Asset Management B.V. raised its position in shares of Pinnacle West Capital by 0.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 240,986 shares of the utilities provider’s stock valued at $19,080,000 after buying an additional 1,504 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Pinnacle West Capital by 12.9% during the third quarter. Wells Fargo & Company MN now owns 624,932 shares of the utilities provider’s stock valued at $49,482,000 after buying an additional 71,618 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of Pinnacle West Capital by 46.7% during the third quarter. Dupont Capital Management Corp now owns 2,841 shares of the utilities provider’s stock valued at $225,000 after buying an additional 904 shares during the last quarter. LSV Asset Management raised its position in shares of Pinnacle West Capital by 15.9% during the third quarter. LSV Asset Management now owns 133,030 shares of the utilities provider’s stock valued at $10,533,000 after buying an additional 18,230 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Pinnacle West Capital by 3.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 371,104 shares of the utilities provider’s stock valued at $29,384,000 after buying an additional 13,010 shares during the last quarter. Hedge funds and other institutional investors own 84.71% of the company’s stock.

PNW stock opened at $95.15 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.56 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $10.65 billion, a P/E ratio of 20.96, a PEG ratio of 4.04 and a beta of 0.19. Pinnacle West Capital Co. has a 1-year low of $73.41 and a 1-year high of $95.84.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Friday, February 22nd. The utilities provider reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. Pinnacle West Capital had a return on equity of 9.67% and a net margin of 13.85%. The firm had revenue of $756.40 million for the quarter, compared to the consensus estimate of $703.26 million. During the same period in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 1st were given a dividend of $0.7375 per share. The ex-dividend date was Thursday, January 31st. This represents a $2.95 dividend on an annualized basis and a yield of 3.10%. Pinnacle West Capital’s payout ratio is 64.98%.

Several equities research analysts have recently issued reports on PNW shares. Credit Suisse Group lifted their price objective on shares of Pinnacle West Capital from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Wells Fargo & Co restated a “market perform” rating and issued a $99.00 price target (up previously from $93.00) on shares of Pinnacle West Capital in a research report on Sunday, February 24th. Barclays set a $90.00 price target on shares of Pinnacle West Capital and gave the stock a “hold” rating in a research report on Saturday, November 17th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Finally, Wolfe Research cut shares of Pinnacle West Capital from a “market perform” rating to an “underperform” rating and set a $83.00 price target on the stock. in a research report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.55.

In other Pinnacle West Capital news, Director Bruce J. Nordstrom sold 3,374 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.44, for a total transaction of $315,266.56. Following the sale, the director now directly owns 32,989 shares in the company, valued at $3,082,492.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Lee R. Nickloy sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $93.50, for a total value of $93,500.00. Following the sale, the vice president now owns 931 shares in the company, valued at $87,048.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,048 shares of company stock worth $3,906,472. 0.53% of the stock is owned by company insiders.

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About Pinnacle West Capital

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 resources. The company serves approximately 1.2 million homes and businesses.

See Also: Intrinsic Value

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

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