Sumitomo Mitsui DS Asset Management Company Ltd Has $1.43 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,085 shares of the utilities provider’s stock after buying an additional 596 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pinnacle West Capital were worth $1,425,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Pinnacle West Capital in the first quarter worth about $898,000. Quantbot Technologies LP bought a new position in Pinnacle West Capital in the 1st quarter valued at approximately $1,102,000. Natixis bought a new position in Pinnacle West Capital in the 1st quarter valued at approximately $4,064,000. Allspring Global Investments Holdings LLC raised its holdings in Pinnacle West Capital by 148.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,944 shares of the utilities provider’s stock valued at $1,341,000 after buying an additional 10,732 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Pinnacle West Capital by 15.6% in the 1st quarter. Sei Investments Co. now owns 228,555 shares of the utilities provider’s stock valued at $17,080,000 after buying an additional 30,924 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinnacle West Capital

In related news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction on Friday, August 9th. The shares were 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 owns 6,397 shares of the company’s stock, valued at approximately $548,862.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $88.12 on Wednesday. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.20 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 company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $88.05 and a 200-day moving average of $81.46.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.31 by $0.45. The company had revenue of $1.31 billion during 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%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, equities analysts forecast that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNW. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Barclays lowered 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 report on Tuesday, July 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.79.

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.