Marshall Financial Group LLC Buys Shares of 5,996 Pinnacle West Capital Corporation $PNW

Key Points

• Marshall Financial Group LLC acquired a new position in Pinnacle West Capital Corporation, buying 5,996 shares valued at approximately $540,000 in the 2nd quarter.
• Several institutional investors, including Czech National Bank and Mirador Capital Partners, have also increased their holdings in Pinnacle West, highlighting strong investor interest with 91.51% of the company's stock now owned by these entities.
• Pinnacle West reported a quarterly earnings per share of $1.58, matching analysts' expectations, with year-over-year revenue growth of 3.8% and a net margin of 10.96%.

Marshall Financial Group LLC bought a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,996 shares of the utilities provider's stock, valued at approximately $540,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Pinnacle West Capital by 2.0% during the first quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider's stock valued at $1,377,759,000 after purchasing an additional 283,752 shares during the period. 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 period. Reaves W H & Co. Inc. lifted its holdings in shares of 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 valued at $143,781,000 after buying an additional 118,796 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 period. Finally, Assenagon Asset Management S.A. increased its position in shares of Pinnacle West Capital by 57.4% during the first quarter. Assenagon Asset Management S.A. now owns 1,065,801 shares of the utilities provider's stock valued at $101,518,000 after purchasing an additional 388,527 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,496 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $92.37, for a total transaction 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 trade represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNW. KeyCorp cut their price target on Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Mizuho lowered Pinnacle West Capital from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $102.00 to $90.00 in a research note on Tuesday, September 9th. Morgan Stanley set a $89.00 price target on Pinnacle West Capital and gave the company an "outperform" rating in a research note on Thursday, August 21st. BMO Capital Markets lifted 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. Finally, UBS Group dropped 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. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $96.20.

Pinnacle West Capital Stock Performance

NYSE:PNW traded up $0.73 during trading hours on Friday, reaching $86.60. The company had a trading volume of 1,529,204 shares, compared to its average volume of 869,756. Pinnacle West Capital Corporation has a 52 week low of $81.47 and a 52 week high of $96.50. The firm's 50 day moving average price is $90.34 and its 200-day moving average price is $91.16. 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 firm has a market cap of $10.34 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 8.87 and a beta of 0.45.

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

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.