Cwm LLC Acquires 303 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Cwm LLC increased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,714 shares of the utilities provider’s stock after purchasing an additional 303 shares during the period. Cwm LLC’s holdings in Pinnacle West Capital were worth $861,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors lifted its position in Pinnacle West Capital by 97.5% during the first quarter. Capital Research Global Investors now owns 12,851,930 shares of the utilities provider’s stock worth $960,425,000 after acquiring an additional 6,344,121 shares during the last quarter. Lazard Asset Management LLC lifted its position in Pinnacle West Capital by 72.7% during the first quarter. Lazard Asset Management LLC now owns 6,719,397 shares of the utilities provider’s stock worth $502,139,000 after acquiring an additional 2,828,450 shares during the last quarter. Zimmer Partners LP acquired a new stake in Pinnacle West Capital during the first quarter worth approximately $198,409,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Pinnacle West Capital by 24.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider’s stock worth $533,562,000 after acquiring an additional 1,379,368 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Pinnacle West Capital by 31.2% during the second quarter. Dimensional Fund Advisors LP now owns 845,137 shares of the utilities provider’s stock worth $64,550,000 after acquiring an additional 200,816 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $87.92 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $91.57. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 2.20 and a beta of 0.52. The company’s fifty day moving average is $87.97 and its 200 day moving average is $81.15.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. Sell-side analysts forecast that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

Insider Activity at Pinnacle West Capital

In related news, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays dropped their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.79.

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.