Todays Report: Today, Oregon Public Employees Retirement Fund invests in Pinnacle West Capital Corp. (PNW) Shares

Today, Oregon Public Employees Retirement Fund invests in Pinnacle West Capital Corp. (PNW) Shares

Oregon Public Employees Retirement Fund increased its position in Pinnacle West Capital Corp. (NYSE:PNW) by 90.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,492 shares of the company’s stock after buying an additional 21,091 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Pinnacle West Capital Corp. were worth $3,381,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. boosted its position in Pinnacle West Capital Corp. by 66.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,338 shares of the company’s stock worth $108,000 after buying an additional 534 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Pinnacle West Capital Corp. during the second quarter worth $121,000. Pacad Investment Ltd. bought a new position in Pinnacle West Capital Corp. during the second quarter worth $154,000. Pacer Advisors Inc. boosted its position in Pinnacle West Capital Corp. by 10.4% in the second quarter. Pacer Advisors Inc. now owns 2,054 shares of the company’s stock worth $166,000 after buying an additional 194 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Pinnacle West Capital Corp. by 2.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,820 shares of the company’s stock worth $206,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.

Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded up 1.71% during trading on Monday, reaching $76.63. The company had a trading volume of 645,385 shares. The firm has a market capitalization of $8.53 billion, a PE ratio of 19.94 and a beta of 0.28. Pinnacle West Capital Corp. has a 12 month low of $60.70 and a 12 month high of $82.78. The stock has a 50 day moving average price of $74.39 and a 200 day moving average price of $76.23.

Pinnacle West Capital Corp. (NYSE:PNW) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $2.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.41 by $0.06. Pinnacle West Capital Corp. had a net margin of 12.30% and a return on equity of 8.97%. The company earned $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle West Capital Corp. will post $3.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, October 28th. Pinnacle West Capital Corp.’s payout ratio is 68.23%.

Several equities analysts have recently commented on PNW shares. SunTrust Banks Inc. increased their target price on Pinnacle West Capital Corp. from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Williams Capital upgraded Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Monday, October 10th. Zacks Investment Research upgraded Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Tuesday, October 4th. Bank of America Corp. upgraded Pinnacle West Capital Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, November 22nd. Finally, Mizuho increased their target price on Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $72.78.

In related news, VP John S. Hatfield sold 4,523 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $75.27, for a total value of $340,446.21. Following the transaction, the vice president now directly owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is 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.

Related posts

Leave a Comment