Pinnacle West Capital Co. (PNW) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 63.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,641 shares of the utilities provider’s stock after selling 20,499 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Pinnacle West Capital were worth $992,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in Pinnacle West Capital in the second quarter valued at about $109,000. Pacer Advisors Inc. raised its stake in Pinnacle West Capital by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Pinnacle West Capital in the third quarter valued at about $205,000. Krilogy Financial LLC purchased a new stake in Pinnacle West Capital in the third quarter valued at about $211,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Pinnacle West Capital in the third quarter valued at about $214,000. Institutional investors own 82.72% of the company’s stock.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Monday. SunTrust Banks restated a “hold” rating and issued a $84.00 price objective on shares of Pinnacle West Capital in a research note on Thursday, October 12th. Bank of America assumed coverage on Pinnacle West Capital in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price objective for the company. ValuEngine cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Morgan Stanley raised their price objective on Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pinnacle West Capital presently has an average rating of “Hold” and an average target price of $86.40.

In related news, Director Michael L. Gallagher sold 2,012 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the sale, the director now directly owns 12,786 shares of the company’s stock, valued at $1,142,684.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David P. Falck sold 4,500 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now directly owns 40,838 shares in the company, valued at $3,637,440.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,665 shares of company stock worth $2,206,047. 0.70% of the stock is owned by corporate insiders.

Pinnacle West Capital Co. (PNW) opened at $79.92 on Friday. Pinnacle West Capital Co. has a 12 month low of $75.79 and a 12 month high of $92.48. The stock has a market capitalization of $9,000.00, a PE ratio of 17.26, a PEG ratio of 5.89 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. Pinnacle West Capital’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. research analysts anticipate that Pinnacle West Capital Co. will post 4.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is 60.04%.

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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.

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

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