RWA Wealth Partners LLC Acquires Shares of 2,167 Pinnacle West Capital Corporation $PNW

RWA Wealth Partners LLC acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,167 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other institutional investors have also recently added to or reduced their stakes in PNW. Nuveen LLC purchased a new stake in Pinnacle West Capital during the first quarter worth approximately $99,364,000. Merewether Investment Management LP purchased a new stake in Pinnacle West Capital during the fourth quarter worth approximately $69,233,000. Two Sigma Advisers LP lifted its stake in Pinnacle West Capital by 462.8% during the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider’s stock worth $77,387,000 after purchasing an additional 750,700 shares during the last quarter. Deutsche Bank AG lifted its stake in Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock worth $206,420,000 after purchasing an additional 610,042 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Pinnacle West Capital by 133.4% during the fourth quarter. Two Sigma Investments LP now owns 961,616 shares of the utilities provider’s stock worth $81,516,000 after purchasing an additional 549,637 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the sale, the executive vice president directly owned 56 shares of the company’s stock, valued at approximately $5,172.72. This trade represents a 99.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Up 0.2%

PNW stock opened at $92.2450 on Thursday. The company has a fifty day moving average price of $90.84 and a 200 day moving average price of $91.39. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 9.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.58. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned $1.76 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be given a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 1st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 73.81%.

Analysts Set New Price Targets

PNW has been the topic of several research reports. Morgan Stanley dropped their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating on the stock in a report on Thursday, May 22nd. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “hold” rating in a report on Friday, May 9th. BMO Capital Markets raised their price objective on Pinnacle West Capital from $96.00 to $98.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. Wall Street Zen lowered Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Finally, KeyCorp dropped their price objective on Pinnacle West Capital from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $97.00.

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.