Cwm LLC Has $861,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Cwm LLC boosted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,714 shares of the utilities provider’s stock after acquiring an additional 303 shares during the period. Cwm LLC’s holdings in Pinnacle West Capital were worth $861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its holdings in shares of Pinnacle West Capital by 66.4% in the third quarter. Mather Group LLC. now owns 2,232 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 891 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Pinnacle West Capital by 13.7% in the third quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 138 shares during the last quarter. Czech National Bank raised its holdings in shares of Pinnacle West Capital by 6.9% in the third quarter. Czech National Bank now owns 23,133 shares of the utilities provider’s stock valued at $2,049,000 after purchasing an additional 1,494 shares during the last quarter. Mirador Capital Partners LP raised its holdings in shares of Pinnacle West Capital by 3.3% in the third quarter. Mirador Capital Partners LP now owns 8,569 shares of the utilities provider’s stock valued at $759,000 after purchasing an additional 273 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Pinnacle West Capital by 415.6% in the third quarter. SG Americas Securities LLC now owns 135,637 shares of the utilities provider’s stock valued at $12,016,000 after purchasing an additional 109,329 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. 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 price objective on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.79.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $87.92 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $9.98 billion, a PE ratio of 19.15, a P/E/G ratio of 2.20 and a beta of 0.52. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $91.57. The company has a 50-day moving average price of $87.97 and a two-hundred day moving average price of $81.15.

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

Insider Activity

In other news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at approximately $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

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.