Systematic Financial Management LP Grows Position in Pinnacle West Capital Co. (NYSE:PNW)

Systematic Financial Management LP raised its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 25.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 46,470 shares of the utilities provider’s stock after purchasing an additional 9,390 shares during the quarter. Systematic Financial Management LP’s holdings in Pinnacle West Capital were worth $3,549,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PNW. Blue Trust Inc. grew 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 position in shares of Pinnacle West Capital during the 1st quarter valued at about $30,000. Newbridge Financial Services Group Inc. boosted its position in shares of Pinnacle West Capital by 70.6% during the 4th 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. Rise Advisors LLC acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at about $36,000. Finally, Riverview Trust Co acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.2 %

Pinnacle West Capital stock opened at $88.27 on Monday. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $91.57. The stock’s fifty day simple moving average is $87.22 and its 200-day simple moving average is $79.65. 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 $10.02 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.30 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The business had revenue of $1.31 billion for 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 was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, equities analysts expect that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert Edgar Smith sold 4,950 shares of the business’s 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 completion of 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

PNW has been the topic of several recent research reports. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price target for the company from $74.00 to $83.50 in a research report on Thursday, June 6th. Barclays lowered their price target on shares of 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. Morgan Stanley upped their target price 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, September 25th. Finally, Jefferies Financial Group started 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 target for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average target price of $80.54.

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.