BerganKDV Wealth Management LLC Has $1.74 Million Position in Pinnacle West Capital Co. (NYSE:PNW)

BerganKDV Wealth Management LLC boosted its position in Pinnacle West Capital Co. (NYSE:PNW) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,410 shares of the utilities provider’s stock after buying an additional 77 shares during the period. BerganKDV Wealth Management LLC’s holdings in Pinnacle West Capital were worth $1,738,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. WealthTrust Arizona LLC raised its position in shares of Pinnacle West Capital by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock worth $104,000 after buying an additional 9 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Pinnacle West Capital during the second quarter worth approximately $106,000. Tompkins Financial Corp raised its position in shares of Pinnacle West Capital by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock worth $113,000 after buying an additional 200 shares in the last quarter. Amica Retiree Medical Trust raised its stake in shares of Pinnacle West Capital by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock worth $125,000 after buying an additional 840 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Pinnacle West Capital by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock worth $175,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Pinnacle West Capital Co. (NYSE:PNW) opened at 88.53 on Friday. Pinnacle West Capital Co. has a 52-week low of $70.86 and a 52-week high of $89.56. The firm has a 50-day moving average of $86.48 and a 200 day moving average of $84.31. The company has a market cap of $9.88 billion, a PE ratio of 19.55 and a beta of 0.37.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.33. The firm had revenue of $944.59 million during the quarter, compared to analysts’ expectations of $921.79 million. Pinnacle West Capital had a net margin of 18.24% and a return on equity of 13.86%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 EPS. Equities research analysts expect that Pinnacle West Capital Co. will post $4.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, July 28th. Pinnacle West Capital’s payout ratio is presently 57.96%.

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A number of equities research analysts have recently issued reports on PNW shares. BMO Capital Markets restated a “hold” rating and issued a $86.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, May 17th. Morgan Stanley cut their target price on shares of Pinnacle West Capital from $83.00 to $82.00 and set an “underweight” rating on the stock in a research note on Monday, May 8th. BidaskClub upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $89.00 target price on shares of Pinnacle West Capital in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus target price of $81.89.

In other news, SVP Barbara M. Gomez sold 1,900 shares of Pinnacle West Capital stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $84.00, for a total transaction of $159,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daniel T. Froetscher sold 2,800 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $87.31, for a total transaction of $244,468.00. Following the sale, the senior vice president now owns 8,568 shares of the company’s stock, valued at approximately $748,072.08. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Pinnacle West Capital Company 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.

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

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