Pinnacle West Capital Co. (NYSE:PNW) Shares Bought by Verity & Verity LLC

Verity & Verity LLC raised its position in Pinnacle West Capital Co. (NYSE:PNW – Get Rating) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,525 shares of the utilities provider’s stock after acquiring an additional 8,333 shares during the period. Verity & Verity LLC owned approximately 0.08% of Pinnacle West Capital worth $6,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Infini Capital Management Ltd acquired a new stake in Pinnacle West Capital in the second quarter valued at approximately $217,000. Brandywine Global Investment Management LLC boosted its stake in Pinnacle West Capital by 60.1% in the second quarter. Brandywine Global Investment Management LLC now owns 66,318 shares of the utilities provider’s stock valued at $4,849,000 after acquiring an additional 24,896 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Pinnacle West Capital by 164.1% in the third quarter. Moody National Bank Trust Division now owns 8,084 shares of the utilities provider’s stock valued at $521,000 after acquiring an additional 5,023 shares in the last quarter. Barclays PLC boosted its stake in Pinnacle West Capital by 23.6% in the third quarter. Barclays PLC now owns 102,520 shares of the utilities provider’s stock valued at $6,614,000 after acquiring an additional 19,550 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its stake in Pinnacle West Capital by 19.7% in the second quarter. Beacon Pointe Advisors LLC now owns 11,090 shares of the utilities provider’s stock valued at $811,000 after acquiring an additional 1,823 shares in the last quarter. 85.21% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Down 1.3 %

Shares of Pinnacle West Capital stock opened at $77.64 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a fifty day moving average price of $75.07 and a 200 day moving average price of $73.21. Pinnacle West Capital Co. has a 1 year low of $59.03 and a 1 year high of $80.60. The stock has a market cap of $8.79 billion, a PE ratio of 18.18 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW – Get Rating) last released its quarterly earnings data on Monday, February 27th. The utilities provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). Pinnacle West Capital had a net margin of 11.18% and a return on equity of 7.87%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $638.28 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. Equities research analysts predict that Pinnacle West Capital Co. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PNW shares. Credit Suisse Group upgraded shares of Pinnacle West Capital from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $77.00 to $80.00 in a research note on Tuesday, March 14th. Mizuho lowered their price objective on shares of Pinnacle West Capital from $76.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, March 2nd. Evercore ISI set a $72.00 price objective on shares of Pinnacle West Capital in a research note on Thursday, November 24th. Siebert Williams Shank lifted their price objective on shares of Pinnacle West Capital to $91.00 in a research note on Monday, November 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $70.00 to $82.00 in a research note on Wednesday, December 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.18.

About Pinnacle West Capital

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Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.