Todays Report: The Pinnacle West Capital Corp. (PNW) Stake Held by Monarch Capital Management Inc.

The Pinnacle West Capital Corp. (PNW) Stake Held by Monarch Capital Management Inc.

Monarch Capital Management Inc. maintained its position in Pinnacle West Capital Corp. (NYSE:PNW) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,800 shares of the company’s stock at the end of the second quarter. Monarch Capital Management Inc.’s holdings in Pinnacle West Capital Corp. were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Pinnacle West Capital Corp. by 23.6% in the first quarter. Wellington Management Group LLP now owns 1,015,701 shares of the company’s stock worth $76,249,000 after buying an additional 193,718 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Pinnacle West Capital Corp. by 1.4% in the first quarter. Geode Capital Management LLC now owns 940,662 shares of the company’s stock worth $70,480,000 after buying an additional 13,165 shares in the last quarter. IBM Retirement Fund increased its position in shares of Pinnacle West Capital Corp. by 19.1% in the second quarter. IBM Retirement Fund now owns 13,130 shares of the company’s stock worth $1,111,000 after buying an additional 2,103 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Pinnacle West Capital Corp. by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 95,142 shares of the company’s stock worth $7,712,000 after buying an additional 1,279 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Pinnacle West Capital Corp. during the second quarter worth about $15,002,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.

Pinnacle West Capital Corp. (NYSE:PNW) traded up 0.84% during trading on Monday, reaching $74.28. The company had a trading volume of 264,681 shares. The stock has a market capitalization of $8.26 billion, a P/E ratio of 19.61 and a beta of 0.33. The stock has a 50 day moving average of $75.58 and a 200-day moving average of $75.98. Pinnacle West Capital Corp. has a 12-month low of $60.70 and a 12-month high of $82.78.

Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by $0.06. Pinnacle West Capital Corp. had a return on equity of 8.94% and a net margin of 12.02%. The firm earned $915.40 million during the quarter, compared to analysts’ expectations of $915.40 million. During the same period last year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts forecast that Pinnacle West Capital Corp. will post $3.99 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Williams Capital raised Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, October 10th. Zacks Investment Research raised Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Tuesday, October 4th. SunTrust Banks Inc. lifted their price objective on Pinnacle West Capital Corp. from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Mizuho lifted their price objective on Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Pinnacle West Capital Corp. in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $71.40.

In related news, VP John S. Hatfield sold 4,523 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $75.27, for a total value of $340,446.21. Following the sale, the vice president now directly owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Corp. Company Profile

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

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