Ranch Capital Advisors Inc. Grows Stock Holdings in Pinnacle West Capital Corporation $PNW

Ranch Capital Advisors Inc. lifted its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,583 shares of the utilities provider’s stock after buying an additional 405 shares during the period. Ranch Capital Advisors Inc.’s holdings in Pinnacle West Capital were worth $500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PNW. Mirae Asset Global Investments Co. Ltd. grew its holdings in Pinnacle West Capital by 12.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,127 shares of the utilities provider’s stock valued at $1,236,000 after purchasing an additional 1,411 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Pinnacle West Capital by 26.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the utilities provider’s stock valued at $528,000 after buying an additional 1,150 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Pinnacle West Capital by 8.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,650 shares of the utilities provider’s stock valued at $443,000 after buying an additional 366 shares during the period. Amalgamated Bank grew its stake in shares of Pinnacle West Capital by 1.7% in the 1st quarter. Amalgamated Bank now owns 22,300 shares of the utilities provider’s stock worth $2,124,000 after purchasing an additional 372 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Pinnacle West Capital by 39.3% in the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 595 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $92.10 on Friday. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The company has a market cap of $11.00 billion, a P/E ratio of 18.99, a P/E/G ratio of 9.58 and a beta of 0.46. The firm’s fifty day moving average price is $89.71 and its two-hundred day moving average price is $90.78. 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 released 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. Equities analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The business also recently declared 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 4.0%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. Pinnacle West Capital’s payout ratio is presently 73.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research cut shares of Pinnacle West Capital from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. BMO Capital Markets reissued a “market perform” rating and set a $99.00 price objective on shares of Pinnacle West Capital in a report on Monday. UBS Group increased their price objective on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Mizuho lowered shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $102.00 to $90.00 in a report on Tuesday, September 9th. Finally, KeyCorp decreased their price objective on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.00.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. The trade was a 99.15% decrease in their ownership of the stock. The sale 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 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.