Epoch Investment Partners Inc. Has $45.59 Million Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Epoch Investment Partners Inc. cut its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 596,816 shares of the utilities provider’s stock after selling 28,360 shares during the period. Epoch Investment Partners Inc. owned about 0.53% of Pinnacle West Capital worth $45,585,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PNW. Intech Investment Management LLC acquired a new stake in Pinnacle West Capital in the first quarter valued at about $898,000. Virtu Financial LLC acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $977,000. Quantbot Technologies LP bought a new stake in shares of Pinnacle West Capital during the 1st quarter valued at approximately $1,102,000. Natixis acquired a new position in Pinnacle West Capital during the 1st quarter worth approximately $4,064,000. Finally, Capital Research Global Investors lifted its stake in Pinnacle West Capital by 116.8% in the 4th quarter. Capital Research Global Investors now owns 6,507,809 shares of the utilities provider’s stock valued at $467,521,000 after purchasing an additional 3,506,181 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 PNW opened at $90.28 on Monday. The firm has a market cap of $10.25 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.27 and a beta of 0.52. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $91.57. The business’s 50 day moving average price is $86.46 and its two-hundred day moving average price is $79.09. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66.

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

Insider Transactions at Pinnacle West Capital

In related news, EVP Robert Edgar Smith sold 4,950 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at approximately $548,862.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday. They set a “buy” rating and a $104.00 price objective on the stock. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $83.50 in a report on Thursday, June 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $80.13.

About Pinnacle West Capital

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.