Wealthcare Advisory Partners LLC Grows Stock Holdings in Pinnacle West Capital Corporation $PNW

Wealthcare Advisory Partners LLC increased its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 15.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,861 shares of the utilities provider’s stock after buying an additional 1,955 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Pinnacle West Capital were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its holdings in shares of Pinnacle West Capital by 1.3% in the second quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock valued at $881,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Pinnacle West Capital by 19.1% in the first quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 125 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Pinnacle West Capital by 4.9% in the first quarter. AE Wealth Management LLC now owns 2,929 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 137 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Pinnacle West Capital by 4.0% in the first quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 156 shares in the last quarter. Finally, Probity Advisors Inc. lifted its holdings in shares of Pinnacle West Capital by 2.6% in the first quarter. Probity Advisors Inc. now owns 6,214 shares of the utilities provider’s stock valued at $592,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,496 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the transaction, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. This represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $91.90 on Wednesday. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52. The company has a 50 day moving average price of $89.55 and a 200 day moving average price of $90.80. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 9.38 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last issued 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. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNW. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Saturday, September 27th. UBS Group reduced their price target on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Barclays upped their price objective on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday. KeyCorp reduced their price objective on shares of Pinnacle West Capital from $101.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Finally, Mizuho downgraded shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $90.00 in a research note on Tuesday, September 9th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $96.09.

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.