Pinnacle West Capital Corporation $PNW Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 25.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,708 shares of the utilities provider’s stock after selling 911 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Pinnacle West Capital were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $417,000. GAMMA Investing LLC grew its stake in shares of Pinnacle West Capital by 39.3% in the first quarter. GAMMA Investing LLC now owns 2,108 shares of the utilities provider’s stock valued at $201,000 after buying an additional 595 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle West Capital by 17.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,082 shares of the utilities provider’s stock valued at $3,342,000 after buying an additional 5,307 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Pinnacle West Capital in the first quarter valued at $1,078,000. Finally, Blue Trust Inc. grew its stake in shares of Pinnacle West Capital by 215.3% in the first quarter. Blue Trust Inc. now owns 1,094 shares of the utilities provider’s stock valued at $104,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNW shares. Argus decreased their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Mizuho lowered Pinnacle West Capital from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $90.00 in a report on Tuesday, September 9th. KeyCorp decreased their price target on Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $99.00 target price on shares of Pinnacle West Capital in a research report on Monday. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.00.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $92.53 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The business’s 50 day moving average is $89.68 and its two-hundred day moving average is $90.74. Pinnacle West Capital Corporation has a 12-month low of $81.47 and a 12-month high of $96.50. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 9.55 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, hitting the consensus estimate of $1.58. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 EPS. Research analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 3rd. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s dividend payout ratio is currently 73.81%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the stock in a transaction 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 transaction, the executive vice president owned 56 shares of the company’s stock, valued at $5,172.72. This represents a 99.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

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.