GYL Financial Synergies LLC Acquires New Stake in Pinnacle West Capital Co. (NYSE:PNW)

GYL Financial Synergies LLC acquired a new position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,292 shares of the utilities provider's stock, valued at approximately $251,000.

Several other large investors have also modified their holdings of PNW. MeadowBrook Investment Advisors LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth approximately $25,000. Blue Trust Inc. grew its position in Pinnacle West Capital by 377.9% during 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. First United Bank & Trust acquired a new stake in Pinnacle West Capital during the 4th quarter valued at $29,000. Cape Investment Advisory Inc. purchased a new stake in shares of Pinnacle West Capital in the first quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider's stock worth $35,000 after buying an additional 199 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company's stock.

Pinnacle West Capital Stock Down 0.1 %

Shares of PNW traded down $0.05 during trading hours on Friday, hitting $87.06. 803,605 shares of the company were exchanged, compared to its average volume of 1,130,642. The firm's 50 day moving average is $81.48 and its 200-day moving average is $76.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. Pinnacle West Capital Co. has a 52 week low of $65.20 and a 52 week high of $89.39. The company has a market cap of $9.89 billion, a PE ratio of 18.97, a PEG ratio of 2.26 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.73% and a net margin of 12.65%. The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company's revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle West Capital Co. will post 4.75 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle West Capital's dividend payout ratio is 76.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays dropped their price target on 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. Wells Fargo & Company boosted 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. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday. LADENBURG THALM/SH SH upgraded 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 report on Thursday, June 6th. Finally, Citigroup assumed coverage on shares of Pinnacle West Capital in a research note on Monday, April 29th. They issued a "neutral" rating and a $78.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of "Hold" and an average target price of $77.95.

About Pinnacle West Capital

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.