Pinnacle West Capital Co. (PNW) Shares Bought by Ffcm LLC

Ffcm LLC raised its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 17.0% during the 3rd quarter, Holdings Channel reports. The firm owned 5,224 shares of the utilities provider’s stock after buying an additional 758 shares during the quarter. Ffcm LLC’s holdings in Pinnacle West Capital were worth $414,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PNW. Piedmont Investment Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the second quarter worth about $106,000. First Hawaiian Bank purchased a new stake in shares of Pinnacle West Capital in the third quarter worth about $152,000. Dupont Capital Management Corp boosted its stake in shares of Pinnacle West Capital by 223.9% in the second quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock worth $156,000 after buying an additional 1,339 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Pinnacle West Capital by 252.7% in the second quarter. Synovus Financial Corp now owns 2,000 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,433 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth about $186,000. Institutional investors and hedge funds own 82.87% of the company’s stock.

In related news, Chairman Donald E. Brandt sold 15,876 shares of the company’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $88.59, for a total value of $1,406,454.84. Following the completion of the transaction, the chairman now owns 77,310 shares of the company’s stock, valued at approximately $6,848,892.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

A number of brokerages have recently commented on PNW. Morgan Stanley upped their target price on Pinnacle West Capital from $85.00 to $89.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Goldman Sachs Group upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating in a research note on Thursday, October 18th. Williams Capital upped their target price on Pinnacle West Capital from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Monday, October 15th. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Wells Fargo & Co upgraded Pinnacle West Capital from a “market perform” rating to an “outperform” rating in a research note on Monday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Pinnacle West Capital has an average rating of “Hold” and an average target price of $86.00.

NYSE PNW opened at $88.27 on Friday. The stock has a market capitalization of $9.81 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 4.38 and a beta of 0.04. Pinnacle West Capital Co. has a twelve month low of $73.41 and a twelve month high of $92.30. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 0.82.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, November 8th. The utilities provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.05. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Pinnacle West Capital had a return on equity of 9.68% and a net margin of 13.71%. Pinnacle West Capital’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 4.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be issued a $0.7375 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, October 31st. This represents a $2.95 dividend on an annualized basis and a yield of 3.34%. Pinnacle West Capital’s dividend payout ratio is presently 67.82%.

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Pinnacle West Capital Company 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 resources. The company serves approximately 1.2 million homes and businesses.

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

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