Probity Advisors Inc. Sells 167 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Probity Advisors Inc. trimmed its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,897 shares of the utilities provider’s stock after selling 167 shares during the period. Probity Advisors Inc.’s holdings in Pinnacle West Capital were worth $522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Empirical Finance LLC increased its holdings in Pinnacle West Capital by 3.4% in the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 134 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the last quarter. GAMMA Investing LLC increased its holdings in Pinnacle West Capital by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 138 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after buying an additional 199 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle West Capital by 0.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after buying an additional 199 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNW. Barclays dropped their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective for the company. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.79.

Pinnacle West Capital Price Performance

PNW stock opened at $87.57 on Thursday. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $91.57. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $87.90 and a 200 day moving average price of $81.01. The stock has a market cap of $9.94 billion, a PE ratio of 19.08, a P/E/G ratio of 2.20 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Equities research analysts anticipate that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.