Moody National Bank Trust Division Takes Position in Pinnacle West Capital Co. (NYSE:PNW)

Moody National Bank Trust Division purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNWGet Rating) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,061 shares of the utilities provider’s stock, valued at approximately $224,000.

A number of other large investors also recently modified their holdings of PNW. State Street Corp increased its holdings in shares of Pinnacle West Capital by 18.4% during the first quarter. State Street Corp now owns 6,911,753 shares of the utilities provider’s stock valued at $539,808,000 after purchasing an additional 1,072,235 shares during the period. Invesco Ltd. grew its holdings in Pinnacle West Capital by 29.6% during the first quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider’s stock worth $276,313,000 after acquiring an additional 808,207 shares during the period. Cincinnati Financial Corp grew its holdings in Pinnacle West Capital by 188.9% during the first quarter. Cincinnati Financial Corp now owns 729,460 shares of the utilities provider’s stock worth $56,971,000 after acquiring an additional 477,000 shares during the period. Marshall Wace LLP grew its holdings in Pinnacle West Capital by 668.1% during the fourth quarter. Marshall Wace LLP now owns 326,401 shares of the utilities provider’s stock worth $23,041,000 after acquiring an additional 283,908 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Pinnacle West Capital by 1.8% during the first quarter. Vanguard Group Inc. now owns 13,338,202 shares of the utilities provider’s stock worth $1,041,714,000 after acquiring an additional 241,019 shares during the period. 86.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathryn L. Munro sold 2,468 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $76.99, for a total value of $190,011.32. Following the completion of the sale, the director now directly owns 16,180 shares in the company, valued at approximately $1,245,698.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Pinnacle West Capital Stock Down 1.8 %

Shares of Pinnacle West Capital stock opened at $73.31 on Wednesday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 15.15 and a beta of 0.31. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.69. Pinnacle West Capital Co. has a 52-week low of $62.78 and a 52-week high of $80.51. The stock has a 50-day simple moving average of $74.66 and a 200-day simple moving average of $74.56.

Pinnacle West Capital (NYSE:PNWGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $974.60 million. Pinnacle West Capital had a return on equity of 9.04% and a net margin of 13.88%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. On average, equities research analysts expect that Pinnacle West Capital Co. will post 3.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho lifted their target price on Pinnacle West Capital from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, August 9th. Credit Suisse Group lifted their price target on Pinnacle West Capital to $69.00 in a research note on Tuesday, August 9th. UBS Group dropped their price target on Pinnacle West Capital from $74.00 to $67.00 and set a “sell” rating on the stock in a research note on Thursday, June 30th. Morgan Stanley lifted their price target on Pinnacle West Capital from $71.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. Finally, Barclays dropped their price target on Pinnacle West Capital from $78.00 to $68.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.92.

Pinnacle West Capital 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.

Further Reading

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

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.