International Private Wealth Advisors LLC Purchases New Stake in Pinnacle West Capital Corporation $PNW

Key Points

• International Private Wealth Advisors LLC has invested $271,000 in Pinnacle West Capital, purchasing 3,030 shares during the second quarter.
• Institutional investors and hedge funds hold 91.51% of Pinnacle West Capital's stock, indicating strong institutional interest.
• Analysts currently have an average rating of "Hold" on Pinnacle West Capital, with a consensus target price of $96.20.

International Private Wealth Advisors LLC acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,030 shares of the utilities provider's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also modified their holdings of PNW. Vanguard Group Inc. boosted its position in Pinnacle West Capital by 2.0% during 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 during the last quarter. ATLAS Infrastructure Partners UK Ltd. boosted its position in Pinnacle West Capital by 230.5% during 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 acquiring an additional 1,948,416 shares during the last quarter. Reaves W H & Co. Inc. boosted its position in Pinnacle West Capital by 8.5% during 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 acquiring an additional 118,796 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Pinnacle West Capital by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,560 shares of the utilities provider's stock worth $105,203,000 after acquiring an additional 110,674 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Pinnacle West Capital by 57.4% during 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 acquiring an additional 388,527 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,496 shares of the stock in a transaction 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 sale, the executive vice president owned 56 shares in the company, valued at approximately $5,172.72. This represents a 99.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Stock Up 0.9%

Shares of Pinnacle West Capital stock traded up $0.73 on Friday, reaching $86.60. 1,529,204 shares of the company were exchanged, compared to its average volume of 869,756. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 8.94 and a beta of 0.45. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average of $90.34 and a 200 day moving average of $91.16.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. 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 report on Thursday, August 7th. KeyCorp reduced their price target on Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Mizuho downgraded Pinnacle West Capital from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $102.00 to $90.00 in a research report on Tuesday, September 9th. UBS Group reduced their price target on Pinnacle West Capital from $98.00 to $95.00 and set a "neutral" rating for the company in a research report on Friday, September 12th. Finally, Barclays dropped their price objective 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. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $96.20.

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.