Gateway Investment Advisers LLC lessened its holdings in Pinnacle West Capital Co. (NYSE:PNW – Free Report) by 1.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,214 shares of the utilities provider’s stock after selling 707 shares during the period. Gateway Investment Advisers LLC owned 0.05% of Pinnacle West Capital worth $5,069,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in Pinnacle West Capital in the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after buying an additional 199 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Pinnacle West Capital during the 1st quarter valued at $36,000. Finally, Riverview Trust Co bought a new stake in shares of Pinnacle West Capital during the 1st quarter worth $46,000. Institutional investors own 91.51% of the company’s stock.
Insider Buying and Selling at Pinnacle West Capital
In other 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 owns 6,397 shares in the company, valued at $548,862.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on PNW
Pinnacle West Capital Price Performance
Shares of Pinnacle West Capital stock opened at $85.90 on Friday. The business has a 50 day moving average of $87.80 and a 200 day moving average of $80.75. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $91.57. The company has a market cap of $9.75 billion, a PE ratio of 18.71, a P/E/G ratio of 2.20 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.
Pinnacle West Capital (NYSE:PNW – Get Free Report) last posted its earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company posted $0.94 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.
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.
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