Vanguard Personalized Indexing Management LLC Grows Stock Holdings in Pinnacle West Capital Corporation $PNW

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 6.1% during the second quarter, Holdings Channel reports. The firm owned 12,833 shares of the utilities provider’s stock after purchasing an additional 735 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Pinnacle West Capital were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. ATLAS Infrastructure Partners UK Ltd. lifted its holdings in shares of Pinnacle West Capital by 230.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider’s stock valued at $266,085,000 after buying an additional 1,948,416 shares during the period. Nuveen LLC bought a new stake in shares of Pinnacle West Capital in the first quarter worth $99,364,000. Vanguard Group Inc. increased its position in Pinnacle West Capital by 2.0% during the first quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider’s stock valued at $1,377,759,000 after acquiring an additional 283,752 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Pinnacle West Capital by 56.4% in the first quarter. AQR Capital Management LLC now owns 414,529 shares of the utilities provider’s stock valued at $39,484,000 after acquiring an additional 149,488 shares during the period. Finally, Reaves W H & Co. Inc. lifted its holdings in Pinnacle West Capital by 8.5% in the first quarter. Reaves W H & Co. Inc. now owns 1,509,511 shares of the utilities provider’s stock valued at $143,781,000 after acquiring an additional 118,796 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.2%

Shares of PNW stock opened at $93.15 on Friday. 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 Corporation has a one year low of $81.47 and a one year high of $96.50. The company’s fifty day moving average price is $89.69 and its 200-day moving average price is $90.73. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 9.65 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.58. The business had revenue of $1.36 billion during 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%.Pinnacle West Capital’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. Sell-side analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,496 shares of the 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 sale, the executive vice president owned 56 shares in the company, valued at approximately $5,172.72. This trade represents a 99.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNW shares. KeyCorp cut their price target on Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays boosted their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. TD Cowen initiated coverage on shares of Pinnacle West Capital in a research report on Thursday. They issued a “hold” rating and a $97.00 price target on the stock. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $89.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Finally, Mizuho lowered Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $90.00 in a research note on Tuesday, September 9th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.42.

About Pinnacle West Capital

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.