New York State Teachers Retirement System Has $11.26 Million Stock Holdings in Pinnacle West Capital Corporation $PNW

New York State Teachers Retirement System lessened its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 0.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 125,825 shares of the utilities provider’s stock after selling 416 shares during the period. New York State Teachers Retirement System owned 0.11% of Pinnacle West Capital worth $11,258,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. TD Asset Management Inc grew its holdings in Pinnacle West Capital by 2.2% during the 2nd quarter. TD Asset Management Inc now owns 78,361 shares of the utilities provider’s stock worth $7,011,000 after acquiring an additional 1,718 shares during the period. Morningstar Investment Management LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter worth $350,000. Sequoia Financial Advisors LLC grew its holdings in Pinnacle West Capital by 273.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,290 shares of the utilities provider’s stock worth $1,100,000 after acquiring an additional 9,001 shares during the period. Yousif Capital Management LLC grew its holdings in Pinnacle West Capital by 7.2% during the 2nd quarter. Yousif Capital Management LLC now owns 26,700 shares of the utilities provider’s stock worth $2,389,000 after acquiring an additional 1,796 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Pinnacle West Capital by 6.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,833 shares of the utilities provider’s stock worth $1,148,000 after acquiring an additional 735 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on PNW shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $89.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Mizuho cut shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $90.00 in a research report on Tuesday, September 9th. Zacks Research cut shares of Pinnacle West Capital from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Finally, TD Cowen started coverage on shares of Pinnacle West Capital in a research report on Thursday. They set a “hold” rating and a $97.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.42.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,496 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $92.37, for a total value of $600,035.52. Following the sale, the executive vice president directly owned 56 shares of the company’s stock, valued at approximately $5,172.72. The trade was a 99.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Pinnacle West Capital Trading Up 0.2%

PNW opened at $93.15 on Friday. The stock has a market capitalization of $11.13 billion, a P/E ratio of 19.21, a P/E/G ratio of 9.65 and a beta of 0.46. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. The firm’s fifty day simple moving average is $89.69 and its 200 day simple moving average is $90.73. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, meeting the consensus estimate of $1.58. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. As a group, research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital 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.