Y.D. More Investments Ltd Invests $123,000 in Pinnacle West Capital Co. (NYSE:PNW)

Y.D. More Investments Ltd purchased a new position in shares of Pinnacle West Capital Co. (NYSE:PNW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,607 shares of the utilities provider’s stock, valued at approximately $123,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PNW. Capital Research Global Investors raised its position in shares of Pinnacle West Capital by 97.5% during the 1st quarter. Capital Research Global Investors now owns 12,851,930 shares of the utilities provider’s stock worth $960,425,000 after purchasing an additional 6,344,121 shares during the period. Lazard Asset Management LLC increased its position in Pinnacle West Capital by 72.7% in the 1st quarter. Lazard Asset Management LLC now owns 6,719,397 shares of the utilities provider’s stock valued at $502,139,000 after acquiring an additional 2,828,450 shares during the period. Zimmer Partners LP acquired a new stake in Pinnacle West Capital in the 1st quarter valued at approximately $198,409,000. Norges Bank acquired a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $112,914,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Pinnacle West Capital in the 1st quarter valued at approximately $12,824,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $89.22 on Friday. The stock has a market cap of $10.13 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.24 and a beta of 0.52. The business has a fifty day simple moving average of $84.73 and a 200-day simple moving average of $77.97. 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 Co. has a 12 month low of $65.20 and a 12 month high of $90.49.

Pinnacle West Capital (NYSE:PNW) last issued 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 return on equity of 9.75% and a net margin of 12.65%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Pinnacle West Capital’s revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.77 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.52 annualized dividend and a dividend yield of 3.95%. Pinnacle West Capital’s dividend payout ratio is 76.69%.

Analyst Upgrades and Downgrades

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

Pinnacle West Capital Company Profile

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.