Sei Investments Co. Has $13.27 Million Position in Pinnacle West Capital Corporation (PNW)

Sei Investments Co. raised its position in Pinnacle West Capital Corporation (NYSE:PNW) by 89.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,175 shares of the utilities provider’s stock after buying an additional 75,207 shares during the period. Sei Investments Co. owned 0.14% of Pinnacle West Capital Corporation worth $13,272,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Pinnacle West Capital Corporation during the fourth quarter worth about $82,701,000. American Century Companies Inc. raised its position in Pinnacle West Capital Corporation by 778.9% in the first quarter. American Century Companies Inc. now owns 1,045,482 shares of the utilities provider’s stock worth $87,172,000 after buying an additional 926,522 shares in the last quarter. LNZ Capital LP raised its position in Pinnacle West Capital Corporation by 89.8% in the third quarter. LNZ Capital LP now owns 1,003,910 shares of the utilities provider’s stock worth $76,287,000 after buying an additional 475,000 shares in the last quarter. British Airways Pensions Investment Management Ltd acquired a new position in Pinnacle West Capital Corporation during the first quarter worth about $33,965,000. Finally, Jennison Associates LLC raised its position in Pinnacle West Capital Corporation by 199.5% in the first quarter. Jennison Associates LLC now owns 611,078 shares of the utilities provider’s stock worth $50,952,000 after buying an additional 407,026 shares in the last quarter. 84.45% of the stock is owned by institutional investors.

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

Pinnacle West Capital Corporation (NYSE:PNW) traded up 0.32% during trading on Friday, hitting $88.92. 1,175,176 shares of the stock traded hands. Pinnacle West Capital Corporation has a 12 month low of $70.86 and a 12 month high of $89.56. The stock has a market cap of $9.92 billion, a P/E ratio of 21.60 and a beta of 0.38. The firm’s 50-day moving average is $86.25 and its 200-day moving average is $81.61.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.06. Pinnacle West Capital Corporation had a return on equity of 9.40% and a net margin of 13.17%. The business had revenue of $677.73 million during the quarter, compared to analysts’ expectations of $704.09 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 1st were given a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, April 27th. Pinnacle West Capital Corporation’s payout ratio is 63.75%.

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PNW has been the subject of a number of recent research reports. Williams Capital lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating and set a $79.00 price target for the company. in a research report on Tuesday, March 7th. BMO Capital Markets reissued a “hold” rating and set a $86.00 price target on shares of Pinnacle West Capital Corporation in a research report on Wednesday, May 17th. Morgan Stanley reduced their price target on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating for the company in a research report on Monday, May 8th. Zacks Investment Research lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Finally, Mizuho lifted their target price on shares of Pinnacle West Capital Corporation from $78.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Pinnacle West Capital Corporation presently has a consensus rating of “Hold” and an average price target of $79.38.

In other news, CFO James R. Hatfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $84.35, for a total value of $843,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John S. Hatfield sold 2,265 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $84.63, for a total value of $191,686.95. Following the completion of the transaction, the vice president now owns 2,145 shares of the company’s stock, valued at approximately $181,531.35. The disclosure for this sale can be found here. Insiders sold 70,875 shares of company stock valued at $6,003,922 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Pinnacle West Capital Corporation 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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