Pinnacle West Capital Co. (PNW) Stake Lifted by Fuller & Thaler Asset Management Inc.

Fuller & Thaler Asset Management Inc. lifted its position in Pinnacle West Capital Co. (NYSE:PNW) by 119.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,575 shares of the utilities provider’s stock after purchasing an additional 1,400 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Pinnacle West Capital were worth $204,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PNW. Piedmont Investment Advisors LLC purchased a new position in Pinnacle West Capital during the 2nd quarter worth approximately $106,000. Dupont Capital Management Corp grew its position in Pinnacle West Capital by 223.9% during the 2nd quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 1,339 shares in the last quarter. TD Asset Management Inc. grew its position in Pinnacle West Capital by 2.1% during the 2nd quarter. TD Asset Management Inc. now owns 97,308 shares of the utilities provider’s stock worth $7,839,000 after purchasing an additional 2,031 shares in the last quarter. CWM LLC grew its position in Pinnacle West Capital by 527.0% during the 2nd quarter. CWM LLC now owns 3,762 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 3,162 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Pinnacle West Capital by 1.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 358,094 shares of the utilities provider’s stock worth $28,848,000 after purchasing an additional 3,963 shares in the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.

Pinnacle West Capital stock opened at $90.23 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.52 and a current ratio of 0.70. Pinnacle West Capital Co. has a 12 month low of $73.41 and a 12 month high of $91.52. The firm has a market cap of $10.02 billion, a PE ratio of 20.74, a P/E/G ratio of 4.46 and a beta of 0.08.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.75 by $0.05. Pinnacle West Capital had a net margin of 13.71% and a return on equity of 9.68%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $2.46 EPS. Pinnacle West Capital’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Pinnacle West Capital Co. will post 4.48 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st were issued a dividend of $0.7375 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. This represents a $2.95 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Wednesday, October 31st. Pinnacle West Capital’s payout ratio is currently 67.82%.

In other news, VP Denise R. Danner sold 3,320 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $88.78, for a total transaction of $294,749.60. Following the transaction, the vice president now directly owns 8,759 shares in the company, valued at approximately $777,624.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Donald E. Brandt sold 15,876 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $88.59, for a total transaction of $1,406,454.84. Following the transaction, the chairman now owns 77,310 shares in the company, valued at $6,848,892.90. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Several equities analysts have weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $92.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, November 14th. Barclays set a $90.00 price objective on shares of Pinnacle West Capital and gave the stock a “hold” rating in a research report on Saturday, November 17th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Wells Fargo & Co reiterated a “buy” rating on shares of Pinnacle West Capital in a research report on Thursday, November 8th. Finally, SunTrust Banks lifted their price objective on shares of Pinnacle West Capital to $90.00 and gave the stock an “average” rating in a research report on Friday, November 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $86.00.

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Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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

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