Pinnacle West Capital Co. (NYSE:PNW) Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC lowered its position in Pinnacle West Capital Co. (NYSE:PNW) by 7.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 579,289 shares of the utilities provider’s stock after selling 45,373 shares during the period. Newport Trust Company LLC owned 0.51% of Pinnacle West Capital worth $44,246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNW. Blue Trust Inc. lifted its stake in shares of Pinnacle West Capital by 377.9% in the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in Pinnacle West Capital in the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Pinnacle West Capital by 70.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 199 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the first quarter valued at approximately $36,000. Finally, Riverview Trust Co acquired a new stake in shares of Pinnacle West Capital in the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 1.3 %

Shares of NYSE PNW opened at $89.03 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $10.11 billion, a PE ratio of 19.40, a PEG ratio of 2.27 and a beta of 0.52. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $91.57. The stock has a fifty day simple moving average of $86.26 and a 200-day simple moving average of $78.81.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company posted $0.94 EPS. Pinnacle West Capital’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNW. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a report on Thursday. They issued a “buy” rating and a $104.00 target price for the company. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley lifted their target price on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Barclays reduced their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.13.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of the 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Company 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.