Regentatlantic Capital LLC Has $258,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Regentatlantic Capital LLC lessened its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,746 shares of the utilities provider’s stock after selling 189 shares during the quarter. Regentatlantic Capital LLC’s holdings in Pinnacle West Capital were worth $258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. World Asset Management Inc increased its holdings in Pinnacle West Capital by 2.2% in the 2nd quarter. World Asset Management Inc now owns 7,692 shares of the utilities provider’s stock valued at $724,000 after buying an additional 167 shares during the period. State of Alaska Department of Revenue increased its holdings in Pinnacle West Capital by 3.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 65,087 shares of the utilities provider’s stock valued at $6,122,000 after buying an additional 1,996 shares during the period. Flagship Harbor Advisors LLC increased its holdings in Pinnacle West Capital by 28.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 959 shares of the utilities provider’s stock valued at $90,000 after buying an additional 212 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Pinnacle West Capital by 44.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 412,525 shares of the utilities provider’s stock valued at $38,819,000 after buying an additional 126,308 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in Pinnacle West Capital by 29.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the utilities provider’s stock valued at $1,769,000 after buying an additional 4,274 shares during the period. Institutional investors own 85.33% of the company’s stock.

Several research firms have commented on PNW. Argus raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, July 30th. Morgan Stanley lowered shares of Pinnacle West Capital from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $98.00 to $90.00 in a report on Wednesday, June 12th. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Monday, May 20th. 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. Finally, ValuEngine lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $94.08.

Shares of Pinnacle West Capital stock traded up $0.41 during midday trading on Monday, hitting $92.90. 22,773 shares of the company traded hands, compared to its average volume of 919,319. The stock has a market capitalization of $10.38 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 3.75 and a beta of 0.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.36 and a current ratio of 0.55. The business has a fifty day simple moving average of $94.59. Pinnacle West Capital Co. has a 12 month low of $77.19 and a 12 month high of $99.81.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a dividend of $0.738 per share. The ex-dividend date is Wednesday, July 31st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a dividend yield of 3.18%. Pinnacle West Capital’s payout ratio is 64.98%.

In related news, Director Michael L. Gallagher sold 5,000 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $95.90, for a total transaction of $479,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

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.

Further Reading: Does a trade war provide a risk to the global economy?

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

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.