Pinnacle West Capital Co. (NYSE:PNW) is Keystone Financial Planning Inc.’s 10th Largest Position

Keystone Financial Planning Inc. decreased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 1.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,741 shares of the utilities provider’s stock after selling 1,315 shares during the quarter. Pinnacle West Capital comprises 2.2% of Keystone Financial Planning Inc.’s holdings, making the stock its 10th largest position. Keystone Financial Planning Inc. owned 0.07% of Pinnacle West Capital worth $7,330,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Pinnacle West Capital by 97.5% in the first quarter. Capital Research Global Investors now owns 12,851,930 shares of the utilities provider’s stock valued at $960,425,000 after purchasing an additional 6,344,121 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Pinnacle West Capital by 72.7% during the 1st quarter. Lazard Asset Management LLC now owns 6,719,397 shares of the utilities provider’s stock worth $502,139,000 after buying an additional 2,828,450 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Pinnacle West Capital during the 1st quarter worth approximately $198,409,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Pinnacle West Capital by 24.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock valued at $533,562,000 after buying an additional 1,379,368 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Pinnacle West Capital by 152,118.2% in the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider’s stock valued at $22,925,000 after acquiring an additional 258,601 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW opened at $85.83 on Friday. The company has a market cap of $9.75 billion, a P/E ratio of 15.87, a PEG ratio of 2.18 and a beta of 0.52. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $91.57. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm’s 50 day moving average price is $88.26 and its 200 day moving average price is $82.18.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, research analysts forecast that Pinnacle West Capital Co. will post 4.88 earnings per share for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.895 per share. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 annualized dividend and a yield of 4.17%. Pinnacle West Capital’s dividend payout ratio is 65.06%.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Susan T. Flanagan bought 500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $86.54 per share, for a total transaction of $43,270.00. Following the acquisition, the director now owns 750 shares in the company, valued at approximately $64,905. This represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital 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 sale, the executive vice president now owns 6,397 shares in the company, valued at $548,862.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PNW shares. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 target price for the company. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.79.

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.