Rothschild Investment LLC Invests $1.92 Million in Pinnacle West Capital Co. (NYSE:PNW)

Rothschild Investment LLC bought a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 2nd quarter, Holdings Channel reports. The firm bought 25,122 shares of the utilities provider’s stock, valued at approximately $1,919,000.

Several other large investors also recently made changes to their positions in PNW. International Assets Investment Management LLC grew its holdings in shares of Pinnacle West Capital by 1,650.8% during the fourth quarter. International Assets Investment Management LLC now owns 10,417 shares of the utilities provider’s stock worth $748,000 after purchasing an additional 9,822 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Pinnacle West Capital by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 229 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pinnacle West Capital by 1,267.8% during the fourth quarter. Victory Capital Management Inc. now owns 311,861 shares of the utilities provider’s stock worth $22,404,000 after purchasing an additional 289,061 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Pinnacle West Capital by 50.0% during the fourth quarter. First Horizon Advisors Inc. now owns 852 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 284 shares during the period. Finally, Summit Global Investments lifted its stake in shares of Pinnacle West Capital by 188.1% during the fourth quarter. Summit Global Investments now owns 19,222 shares of the utilities provider’s stock valued at $1,381,000 after acquiring an additional 12,550 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.4 %

Shares of NYSE:PNW traded up $0.37 during mid-day trading on Friday, reaching $87.52. 736,113 shares of the stock were exchanged, compared to its average volume of 1,117,230. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The company has a market cap of $9.94 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.26 and a beta of 0.50. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $89.39. The stock’s 50 day simple moving average is $82.67 and its 200-day simple moving average is $76.79.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.73% and a net margin of 12.65%. Pinnacle West Capital’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. As a group, equities research analysts predict that Pinnacle West Capital Co. will post 4.75 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. Pinnacle West Capital’s payout ratio is presently 76.69%.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNW. LADENBURG THALM/SH SH raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $74.00 to $83.50 in a research note on Thursday, June 6th. Wells Fargo & Company increased their target price on Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley increased their target price on Pinnacle West Capital from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Barclays cut their target price on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.95.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.