Amundi Has $19.76 Million Holdings in Pinnacle West Capital Corporation $PNW

Amundi lifted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 207,539 shares of the utilities provider's stock after acquiring an additional 63,785 shares during the quarter. Amundi owned about 0.17% of Pinnacle West Capital worth $19,760,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle West Capital by 26.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider's stock worth $2,524,000 after purchasing an additional 6,183 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pinnacle West Capital by 12.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,127 shares of the utilities provider's stock worth $1,236,000 after purchasing an additional 1,411 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Pinnacle West Capital by 26.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the utilities provider's stock worth $528,000 after purchasing an additional 1,150 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Pinnacle West Capital by 8.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,650 shares of the utilities provider's stock worth $443,000 after purchasing an additional 366 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Pinnacle West Capital by 1.7% in the 1st quarter. Amalgamated Bank now owns 22,300 shares of the utilities provider's stock worth $2,124,000 after purchasing an additional 372 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock traded down $0.18 during trading hours on Friday, hitting $88.19. The stock had a trading volume of 758,982 shares, compared to its average volume of 891,215. The company has a 50-day moving average of $90.74 and a two-hundred day moving average of $91.36. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25. The company has a market cap of $10.53 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 9.13 and a beta of 0.45. Pinnacle West Capital Corporation has a fifty-two week low of $81.47 and a fifty-two week high of $96.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, meeting the consensus estimate of $1.58. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st were issued a $0.895 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.58 annualized dividend and a yield of 4.1%. Pinnacle West Capital's dividend payout ratio is 73.81%.

Analysts Set New Price Targets

Several research firms recently weighed in on PNW. BMO Capital Markets boosted their target price on Pinnacle West Capital from $96.00 to $98.00 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Barclays decreased their target price on Pinnacle West Capital from $94.00 to $93.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Morgan Stanley set a $89.00 target price on Pinnacle West Capital and gave the company an "outperform" rating in a research note on Thursday, August 21st. KeyCorp decreased their target price on Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Finally, Mizuho downgraded Pinnacle West Capital from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $102.00 to $90.00 in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and a consensus price target of $96.20.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $92.37, for a total value of $600,035.52. Following the completion of the transaction, the executive vice president owned 56 shares of the company's stock, valued at $5,172.72. This represents a 99.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

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.