MBB Public Markets I LLC Invests $337,000 in Pinnacle West Capital Corporation $PNW

Key Points

• MBB Public Markets I LLC has acquired a new stake in Pinnacle West Capital Corporation by purchasing 3,540 shares valued at around $337,000, according to recent SEC disclosures.
• Institutional investors collectively own 91.51% of Pinnacle West Capital's stock, with notable increases in holdings from firms like ATLAS Infrastructure Partners UK Ltd. and Two Sigma Advisers LP during the last quarter.
• Pinnacle West Capital reported a quarterly EPS of $1.58 and a dividend of $0.895 per share, resulting in an annualized yield of 4.0%, while its stock has fluctuated between a 12-month low of $81.47 and a high of $96.50.

MBB Public Markets I LLC acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,540 shares of the utilities provider's stock, valued at approximately $337,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted 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 buying an additional 6,183 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted 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 buying an additional 1,411 shares during the period. Stratos Wealth Partners LTD. boosted 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 buying an additional 1,150 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted 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 buying an additional 366 shares during the period. Finally, Amalgamated Bank boosted 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 buying an additional 372 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Pinnacle West Capital Trading Down 0.2%

Shares of PNW traded down $0.18 during trading hours on Friday, reaching $88.19. 758,982 shares of the company traded hands, compared to its average volume of 891,215. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. 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's fifty day moving average price is $90.74 and its two-hundred day moving average price is $91.37. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 9.13 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Pinnacle West Capital's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 1st were paid a dividend of $0.895 per share. 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 payout ratio is presently 73.81%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho cut shares of 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. KeyCorp lowered their price objective on shares of Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley set a $89.00 target price on shares of Pinnacle West Capital and gave the stock an "outperform" rating in a research report on Thursday, August 21st. UBS Group decreased their price objective on shares of Pinnacle West Capital from $98.00 to $95.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Barclays decreased their price objective on shares of Pinnacle West Capital from $94.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $96.20.

Pinnacle West Capital 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.