Susquehanna Fundamental Investments LLC Sells 3,200 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Susquehanna Fundamental Investments LLC cut its holdings in Pinnacle West Capital Co. (NYSE:PNW) by 1.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 168,404 shares of the utilities provider’s stock after selling 3,200 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Pinnacle West Capital were worth $12,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 291 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in Pinnacle West Capital in the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. lifted its stake 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 worth $35,000 after purchasing an additional 199 shares in the last quarter. Rise Advisors LLC purchased a new stake in Pinnacle West Capital in the 1st quarter worth approximately $36,000. Finally, Riverview Trust Co purchased a new stake in Pinnacle West Capital in the 1st quarter worth approximately $46,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PNW. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their price objective for the company from $74.00 to $83.50 in a research report on Thursday, June 6th. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.54.

Insiders Place Their Bets

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 shares were sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now owns 6,397 shares of the company’s stock, valued at approximately $548,862.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $88.20 on Friday. 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’s fifty day moving average is $87.10 and its 200 day moving average is $79.48. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $91.57. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. Research analysts anticipate that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

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.