AMP Capital Investors Ltd Has $12.08 Million Position in Pinnacle West Capital Co. (PNW)

AMP Capital Investors Ltd lifted its position in Pinnacle West Capital Co. (NYSE:PNW) by 124.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,804 shares of the utilities provider’s stock after buying an additional 79,193 shares during the quarter. AMP Capital Investors Ltd owned about 0.13% of Pinnacle West Capital worth $12,076,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. grew its stake in shares of Pinnacle West Capital by 0.3% in the second quarter. Wedbush Securities Inc. now owns 8,736 shares of the utilities provider’s stock valued at $744,000 after buying an additional 25 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Pinnacle West Capital by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,288 shares of the utilities provider’s stock valued at $706,000 after buying an additional 29 shares in the last quarter. Veritable L.P. grew its stake in shares of Pinnacle West Capital by 1.3% in the second quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock valued at $267,000 after buying an additional 40 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Pinnacle West Capital by 0.4% in the second quarter. CIBC Asset Management Inc now owns 10,805 shares of the utilities provider’s stock valued at $920,000 after buying an additional 41 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Pinnacle West Capital by 3.6% in the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

In other news, Director Michael L. Gallagher sold 2,012 shares of Pinnacle West Capital stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the completion of the sale, the director now owns 12,786 shares of the company’s stock, valued at $1,142,684.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald E. Brandt sold 18,153 shares of Pinnacle West Capital stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.54, for a total value of $1,625,419.62. Following the sale, the chief executive officer now directly owns 118,574 shares of the company’s stock, valued at approximately $10,617,115.96. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Pinnacle West Capital Co. (PNW) traded up $0.60 on Monday, hitting $90.75. The stock had a trading volume of 413,200 shares, compared to its average volume of 674,562. Pinnacle West Capital Co. has a 12 month low of $74.46 and a 12 month high of $92.48. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $10,139.48, a P/E ratio of 19.60, a P/E/G ratio of 6.57 and a beta of 0.38.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.13. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $2.35 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. sell-side analysts expect that Pinnacle West Capital Co. will post 4.27 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.695 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.66. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 60.04%.

Several equities research analysts have issued reports on the company. Bank of America assumed coverage on Pinnacle West Capital in a report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price target for the company. Credit Suisse Group assumed coverage on Pinnacle West Capital in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 price target for the company. KeyCorp reaffirmed a “hold” rating on shares of Pinnacle West Capital in a report on Friday, September 1st. SunTrust Banks reaffirmed a “hold” rating and set a $84.00 price target on shares of Pinnacle West Capital in a report on Thursday, October 12th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.70.

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Pinnacle West Capital Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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

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