Capital Investment Advisors LLC Has $5.71 Million Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Capital Investment Advisors LLC reduced its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,439 shares of the utilities provider’s stock after selling 1,808 shares during the quarter. Capital Investment Advisors LLC’s holdings in Pinnacle West Capital were worth $5,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Pinnacle West Capital by 3.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,085 shares of the utilities provider’s stock worth $1,425,000 after purchasing an additional 596 shares during the period. Ellsworth Advisors LLC lifted its stake in shares of Pinnacle West Capital by 9.9% in the third quarter. Ellsworth Advisors LLC now owns 18,911 shares of the utilities provider’s stock valued at $1,675,000 after buying an additional 1,700 shares in the last quarter. Creative Planning grew its holdings in shares of Pinnacle West Capital by 9.7% during the third quarter. Creative Planning now owns 25,716 shares of the utilities provider’s stock valued at $2,278,000 after buying an additional 2,272 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Pinnacle West Capital during the third quarter worth about $854,000. Finally, Fiduciary Financial Group LLC raised its holdings in shares of Pinnacle West Capital by 8.0% in the 3rd quarter. Fiduciary Financial Group LLC now owns 3,939 shares of the utilities provider’s stock worth $341,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PNW. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley increased their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays cut 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 report on Tuesday, July 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $80.79.

Insiders Place Their Bets

In other news, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $87.92 on Friday. The firm has a market cap of $9.98 billion, a P/E ratio of 19.15, a PEG ratio of 2.20 and a beta of 0.52. 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 fifty-two week low of $65.20 and a fifty-two week high of $91.57. The firm has a 50-day moving average of $87.97 and a 200 day moving average of $81.20.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $0.94 EPS. Pinnacle West Capital’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, research analysts expect that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

Pinnacle West Capital Profile

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.