Moody National Bank Trust Division Purchases 332 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Moody National Bank Trust Division lifted its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 18.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,132 shares of the utilities provider’s stock after purchasing an additional 332 shares during the period. Moody National Bank Trust Division’s holdings in Pinnacle West Capital were worth $204,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PNW. Altshuler Shaham Ltd bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $26,000. Mackey Komara & Dankovich LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $30,000. Bartlett & Co. LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter valued at $30,000. Old North State Trust LLC grew its holdings in shares of Pinnacle West Capital by 316.7% in the fourth quarter. Old North State Trust LLC now owns 400 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 304 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Pinnacle West Capital by 72.7% in the fourth quarter. Global Retirement Partners LLC now owns 411 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.

NYSE PNW traded up $1.05 on Friday, hitting $94.12. 670,902 shares of the stock were exchanged, compared to its average volume of 1,049,967. The company has a quick ratio of 0.38, a current ratio of 0.56 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $10.57 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.92 and a beta of 0.18. Pinnacle West Capital Co. has a 52-week low of $73.41 and a 52-week high of $97.27.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $740.53 million for the quarter, compared to analysts’ expectations of $718.60 million. Pinnacle West Capital had a return on equity of 9.67% and a net margin of 13.85%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Pinnacle West Capital Co. will post 4.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.7375 per share. The ex-dividend date is Tuesday, April 30th. This represents a $2.95 annualized dividend and a dividend yield of 3.13%. Pinnacle West Capital’s dividend payout ratio (DPR) is 64.98%.

A number of research firms recently weighed in on PNW. Goldman Sachs Group lowered shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. Wells Fargo & Co lowered shares of Pinnacle West Capital from an “outperform” rating to a “market perform” rating and set a $87.36 target price for the company. in a report on Wednesday, January 30th. Bank of America raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Monday, April 15th. Royal Bank of Canada lowered shares of Pinnacle West Capital from an “outperform” rating to a “sector perform” rating and set a $93.00 target price for the company. in a report on Friday, March 1st. Finally, Credit Suisse Group set a $102.00 target price on shares of Pinnacle West Capital and gave the company a “buy” rating in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $90.91.

In other news, VP Donna M. Easterly sold 2,358 shares of Pinnacle West Capital stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $95.67, for a total transaction of $225,589.86. Following the completion of the sale, the vice president now directly owns 2,991 shares in the company, valued at $286,148.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lee R. Nickloy sold 1,000 shares of Pinnacle West Capital stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $93.50, for a total value of $93,500.00. Following the sale, the vice president now owns 931 shares of the company’s stock, valued at $87,048.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,406 shares of company stock valued at $4,132,062. Corporate insiders own 0.41% of the company’s stock.

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About Pinnacle West Capital

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 generating facilities. The company serves approximately 1.2 million customers.

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

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