Headlands Technologies LLC Sells 1,312 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Headlands Technologies LLC reduced its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 74.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 457 shares of the utilities provider’s stock after selling 1,312 shares during the period. Headlands Technologies LLC’s holdings in Pinnacle West Capital were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Empirical Finance LLC grew its position in Pinnacle West Capital by 3.4% during the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 134 shares during the last quarter. First Horizon Advisors Inc. grew its position in Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Pinnacle West Capital by 70.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Pinnacle West Capital by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock valued at $1,659,000 after acquiring an additional 199 shares during the last quarter. Finally, SFE Investment Counsel grew its holdings in shares of Pinnacle West Capital by 1.3% in the second quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock worth $1,408,000 after purchasing an additional 245 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $89.97 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $10.22 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.27 and a beta of 0.52. The business has a fifty day simple moving average of $85.85 and a two-hundred day simple moving average of $78.65. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $91.57.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.31 by $0.45. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNW shares. Morgan Stanley raised their target price on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $74.00 to $83.50 in a report on Thursday, June 6th. Barclays cut their target price on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.95.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares of the company’s stock, valued at $548,862.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.