CHICAGO TRUST Co NA Sells 435 Shares of Pinnacle West Capital Co. (NYSE:PNW)

CHICAGO TRUST Co NA trimmed its holdings in shares of Pinnacle West Capital Co. (NYSE:PNWGet Rating) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,100 shares of the utilities provider’s stock after selling 435 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Pinnacle West Capital were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in shares of Pinnacle West Capital by 169.7% during the fourth quarter. Lazard Asset Management LLC now owns 10,767,845 shares of the utilities provider’s stock worth $760,101,000 after purchasing an additional 6,774,779 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pinnacle West Capital by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,117,198 shares of the utilities provider’s stock worth $220,043,000 after purchasing an additional 159,020 shares during the last quarter. Invesco Ltd. lifted its position in shares of Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 2,729,735 shares of the utilities provider’s stock worth $192,692,000 after purchasing an additional 49,459 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Pinnacle West Capital by 14.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,477,391 shares of the utilities provider’s stock worth $174,879,000 after purchasing an additional 305,991 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Pinnacle West Capital by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,149,085 shares of the utilities provider’s stock worth $151,478,000 after purchasing an additional 34,824 shares during the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Pinnacle West Capital from $76.00 to $80.00 and gave the company a “sector perform” rating in a report on Monday, April 4th. KeyCorp lifted their price objective on Pinnacle West Capital from $62.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, April 20th. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $68.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, February 28th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Finally, Evercore ISI downgraded Pinnacle West Capital from an “in-line” rating to an “underperform” rating and set a $68.00 price objective for the company. in a report on Friday, March 11th. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.18.

In other news, SVP Barbara D. Lockwood sold 3,489 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $74.25, for a total transaction of $259,058.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Shares of PNW stock opened at $68.31 on Thursday. Pinnacle West Capital Co. has a fifty-two week low of $62.78 and a fifty-two week high of $86.87. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 12.96 and a beta of 0.31. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.76 and a current ratio of 1.00. The stock’s 50-day simple moving average is $74.52 and its 200-day simple moving average is $72.52.

Pinnacle West Capital (NYSE:PNWGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. Pinnacle West Capital had a return on equity of 9.96% and a net margin of 15.42%. The business had revenue of $783.53 million for the quarter, compared to analyst estimates of $692.73 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 4.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 1st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.98%. Pinnacle West Capital’s payout ratio is 64.15%.

Pinnacle West Capital Company Profile (Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

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

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