Pinnacle West Capital Co. (PNW) Shares Sold by Rothschild Investment Corp IL
Rothschild Investment Corp IL decreased its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 13,087 shares of the utilities provider’s stock after selling 320 shares during the period. Rothschild Investment Corp IL’s holdings in Pinnacle West Capital were worth $1,091,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. BRC Investment Management LLC acquired a new stake in shares of Pinnacle West Capital during the third quarter valued at approximately $710,000. Capital Fund Management S.A. acquired a new stake in shares of Pinnacle West Capital during the third quarter valued at approximately $388,000. Spectrum Management Group Inc. raised its stake in shares of Pinnacle West Capital by 1.2% in the third quarter. Spectrum Management Group Inc. now owns 8,480 shares of the utilities provider’s stock valued at $644,000 after buying an additional 100 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Pinnacle West Capital by 52.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,166 shares of the utilities provider’s stock valued at $3,736,000 after buying an additional 16,976 shares during the last quarter. Finally, World Asset Management Inc raised its stake in shares of Pinnacle West Capital by 2.3% in the third quarter. World Asset Management Inc now owns 11,554 shares of the utilities provider’s stock valued at $878,000 after buying an additional 262 shares during the last quarter. Institutional investors own 82.61% of the company’s stock.
Pinnacle West Capital Co. (NYSE:PNW) traded up 0.39% on Friday, reaching $85.65. The company had a trading volume of 607,631 shares. Pinnacle West Capital Co. has a one year low of $70.11 and a one year high of $86.25. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 21.68 and a beta of 0.29. The company’s 50 day moving average is $83.64 and its 200-day moving average is $78.13.
Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Friday, February 24th. The utilities provider reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Pinnacle West Capital had a net margin of 12.30% and a return on equity of 8.97%. The company earned $739 million during the quarter, compared to analyst estimates of $791.38 million. During the same period in the previous year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that Pinnacle West Capital Co. will post $4.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 1st will be issued a $0.655 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $2.62 dividend on an annualized basis and a yield of 3.07%. Pinnacle West Capital’s payout ratio is currently 68.23%.
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Several brokerages recently commented on PNW. Williams Capital lowered Pinnacle West Capital from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research report on Tuesday, March 7th. Zacks Investment Research lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Mizuho upped their target price on Pinnacle West Capital from $78.00 to $81.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. Finally, Goldman Sachs Group Inc upgraded Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their target price for the company from $71.00 to $74.00 in a research report on Tuesday, January 17th. Seven equities research analysts have rated the stock with a hold rating, Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $77.83.
Pinnacle West Capital Company Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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