Centennial Wealth Advisory LLC Invests $429,000 in Pinnacle West Capital Corporation $PNW

Key Points

• Centennial Wealth Advisory LLC invested approximately $429,000 in Pinnacle West Capital Corporation, acquiring 4,789 shares during the 2nd quarter.
• Institutional investors hold 91.51% of Pinnacle West Capital's stock, with Vanguard Group Inc. leading with a stake valued at about $1.38 billion.
• Pinnacle West recently reported an EPS of $1.58 for the last quarter, meeting consensus estimates, while also posting a year-over-year revenue growth of 3.8%.

Centennial Wealth Advisory LLC bought a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,789 shares of the utilities provider's stock, valued at approximately $429,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Pinnacle West Capital by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider's stock worth $1,377,759,000 after acquiring an additional 283,752 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pinnacle West Capital by 230.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider's stock worth $266,085,000 after buying an additional 1,948,416 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of Pinnacle West Capital by 8.5% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,509,511 shares of the utilities provider's stock worth $143,781,000 after buying an additional 118,796 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pinnacle West Capital by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,560 shares of the utilities provider's stock worth $105,203,000 after buying an additional 110,674 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Pinnacle West Capital by 57.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,065,801 shares of the utilities provider's stock worth $101,518,000 after buying an additional 388,527 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,496 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $92.37, for a total value of $600,035.52. Following the transaction, the executive vice president directly owned 56 shares in the company, valued at $5,172.72. The trade was a 99.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $87.65 on Tuesday. The stock's 50-day simple moving average is $89.76 and its 200-day simple moving average is $90.95. Pinnacle West Capital Corporation has a 52 week low of $81.47 and a 52 week high of $96.50. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 8.96 and a beta of 0.45. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, meeting the consensus estimate of $1.58. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PNW shares. UBS Group cut their price target on Pinnacle West Capital from $98.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. BMO Capital Markets upped their price target on Pinnacle West Capital from $96.00 to $98.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Mizuho downgraded Pinnacle West Capital from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $102.00 to $90.00 in a research note on Tuesday, September 9th. Barclays cut their target price on Pinnacle West Capital from $94.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Finally, KeyCorp reduced their target price on Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.00.

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.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.