SFE Investment Counsel Sells 485 Shares of Pinnacle West Capital Co. (NYSE:PNW)

SFE Investment Counsel lowered its stake in Pinnacle West Capital Co. (NYSE:PNW) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,160 shares of the utilities provider’s stock after selling 485 shares during the period. SFE Investment Counsel’s holdings in Pinnacle West Capital were worth $2,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. River Road Asset Management LLC grew its holdings in shares of Pinnacle West Capital by 14.1% during the 2nd quarter. River Road Asset Management LLC now owns 346,767 shares of the utilities provider’s stock worth $28,424,000 after acquiring an additional 42,742 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Pinnacle West Capital by 15.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 41,692 shares of the utilities provider’s stock worth $3,417,000 after purchasing an additional 5,581 shares in the last quarter. Principal Financial Group Inc. lifted its position in Pinnacle West Capital by 2.6% in the 2nd quarter. Principal Financial Group Inc. now owns 140,236 shares of the utilities provider’s stock valued at $11,495,000 after acquiring an additional 3,542 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Pinnacle West Capital by 96.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 115,092 shares of the utilities provider’s stock valued at $9,434,000 after buying an additional 56,436 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Pinnacle West Capital by 13.5% in the 2nd quarter. Van ECK Associates Corp now owns 31,640 shares of the utilities provider’s stock worth $2,593,000 after purchasing an additional 3,775 shares in the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.

Shares of NYSE:PNW traded up $0.10 on Wednesday, hitting $74.10. 5,976 shares of the company were exchanged, compared to its average volume of 856,246. Pinnacle West Capital Co. has a 1-year low of $69.29 and a 1-year high of $91.88. The stock’s 50 day moving average price is $80.50 and its 200 day moving average price is $82.06. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $8.36 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.30.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, August 5th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.26. Pinnacle West Capital had a net margin of 15.66% and a return on equity of 9.90%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $946.39 million. During the same period in the previous year, the firm posted $1.71 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Pinnacle West Capital Co. will post 4.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, August 2nd were issued a $0.83 dividend. The ex-dividend date was Friday, July 30th. This represents a $3.32 annualized dividend and a yield of 4.48%. Pinnacle West Capital’s payout ratio is 68.17%.

PNW has been the subject of a number of analyst reports. Mizuho increased their price target on Pinnacle West Capital from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, July 19th. Siebert Williams Shank reissued a “buy” rating and set a $84.48 price objective (down previously from $92.00) on shares of Pinnacle West Capital in a report on Monday, July 26th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $84.00 in a research note on Wednesday, August 4th. The Goldman Sachs Group lowered shares of Pinnacle West Capital from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $85.00 to $73.00 in a research report on Thursday, August 19th. Finally, KeyCorp lowered shares of Pinnacle West Capital from a “sector weight” rating to an “underweight” rating and set a $72.00 target price on the stock. in a research report on Wednesday, August 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.45.

About Pinnacle West Capital

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

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

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