SG Americas Securities LLC Has $7.11 Million Holdings in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 39.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,273 shares of the utilities provider’s stock after buying an additional 20,766 shares during the period. SG Americas Securities LLC’s holdings in Pinnacle West Capital were worth $7,113,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. 6 Meridian raised its stake in shares of Pinnacle West Capital by 1.9% in the second quarter. 6 Meridian now owns 5,677 shares of the utilities provider’s stock worth $534,000 after acquiring an additional 107 shares during the last quarter. Silver Lake Advisory LLC raised its stake in shares of Pinnacle West Capital by 0.7% in the second quarter. Silver Lake Advisory LLC now owns 17,571 shares of the utilities provider’s stock worth $1,653,000 after acquiring an additional 120 shares during the last quarter. Zacks Investment Management raised its stake in shares of Pinnacle West Capital by 0.4% in the second quarter. Zacks Investment Management now owns 28,575 shares of the utilities provider’s stock worth $2,689,000 after acquiring an additional 127 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Pinnacle West Capital by 0.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,340 shares of the utilities provider’s stock worth $1,631,000 after acquiring an additional 128 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Pinnacle West Capital by 7.6% in the second quarter. Parallel Advisors LLC now owns 1,822 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

PNW has been the subject of a number of research analyst reports. Argus raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, July 30th. ValuEngine downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $95.00 to $87.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Williams Capital reissued a “hold” rating and set a $97.00 price target (up from $87.00) on shares of Pinnacle West Capital in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $95.83.

Shares of PNW traded down $1.43 on Friday, reaching $86.39. 1,362,990 shares of the company’s stock were exchanged, compared to its average volume of 981,974. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $10.19 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 3.11 and a beta of 0.06. The business has a 50 day moving average price of $94.82 and a two-hundred day moving average price of $94.68. Pinnacle West Capital Co. has a 12 month low of $81.63 and a 12 month high of $99.81.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $2.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.00 by ($0.23). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. Equities research analysts predict that Pinnacle West Capital Co. will post 4.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a dividend of $0.7825 per share. This represents a $3.13 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, November 1st. Pinnacle West Capital’s payout ratio is 68.94%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

Read More: Are we seeing the beginning of a new bubble?

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNW).

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

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.