ProShare Advisors LLC Has $1.79 Million Stake in Pinnacle West Capital Co. (NYSE:PNW)

ProShare Advisors LLC increased its position in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,451 shares of the utilities provider’s stock after purchasing an additional 1,533 shares during the quarter. ProShare Advisors LLC’s holdings in Pinnacle West Capital were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in Pinnacle West Capital in the 1st quarter worth about $30,000. Newbridge Financial Services Group Inc. boosted its holdings in Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 199 shares during the period. Rise Advisors LLC acquired a new position in shares of Pinnacle West Capital during the 1st quarter worth approximately $36,000. Finally, Riverview Trust Co bought a new position in shares of Pinnacle West Capital during the first quarter worth approximately $46,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PNW shares. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley upped their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays decreased their price target on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $80.54.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction on Friday, August 9th. The shares were sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now owns 6,397 shares in the company, valued at $548,862.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $88.20 on Friday. Pinnacle West Capital Co. has a fifty-two week low of $65.20 and a fifty-two week high of $91.57. The stock has a market cap of $10.02 billion, a PE ratio of 19.22, a PEG ratio of 2.30 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The firm’s fifty day moving average price is $87.10 and its two-hundred day moving average price is $79.48.

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

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.