Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. decreased its holdings in Pinnacle West Capital Co. (NYSE:PNWFree Report) by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,080 shares of the utilities provider’s stock after selling 154 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Pinnacle West Capital were worth $81,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth $25,000. Financial Gravity Asset Management Inc. boosted its position in shares of Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth $26,000. First United Bank & Trust purchased a new position in Pinnacle West Capital in the 4th quarter worth $29,000. Finally, Tobam raised its stake in Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 393 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 Pinnacle West Capital stock traded down $1.13 on Tuesday, hitting $74.72. The company’s stock had a trading volume of 933,169 shares, compared to its average volume of 1,213,548. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $86.03. The firm has a fifty day moving average price of $75.73 and a 200-day moving average price of $72.90. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNWGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The firm had revenue of $951.71 million during the quarter, compared to analyst estimates of $981.82 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Pinnacle West Capital’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 1st were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.52 annualized dividend and a dividend yield of 4.71%. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PNW shares. Barclays raised their target price on Pinnacle West Capital from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Evercore ISI reduced their target price on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $74.00 to $83.50 in a research note on Thursday, June 6th. Bank of America upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. Finally, Wells Fargo & Company raised their target price on Pinnacle West Capital from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.04.

Check Out Our Latest Report on PNW

Pinnacle West Capital Profile

(Free Report)

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.

See Also

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

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