Fiduciary Financial Group LLC Has $341,000 Position in Pinnacle West Capital Co. (NYSE:PNW)

Fiduciary Financial Group LLC increased its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,939 shares of the utilities provider’s stock after purchasing an additional 292 shares during the period. Fiduciary Financial Group LLC’s holdings in Pinnacle West Capital were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNW. Intech Investment Management LLC acquired a new position in shares of Pinnacle West Capital in the 1st quarter worth approximately $898,000. Virtu Financial LLC bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at $977,000. Quantbot Technologies LP acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at $1,102,000. Natixis bought a new stake in shares of Pinnacle West Capital in the 1st quarter worth about $4,064,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Pinnacle West Capital by 148.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,944 shares of the utilities provider’s stock worth $1,341,000 after purchasing an additional 10,732 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction on Friday, August 9th. The shares were sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $85.90 on Friday. The firm’s 50 day moving average price is $87.80 and its two-hundred day moving average price is $80.75. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $91.57. The stock has a market cap of $9.75 billion, a PE ratio of 18.71, a PEG ratio of 2.20 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, analysts forecast that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on PNW shares. Barclays decreased their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Jefferies Financial Group began coverage on Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target for the company. Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Morgan Stanley upped their price target on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.54.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, 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. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.