7,431 Shares in Pinnacle West Capital Co. (NYSE:PNW) Purchased by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC purchased a new position in Pinnacle West Capital Co. (NYSE:PNW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,431 shares of the utilities provider's stock, valued at approximately $568,000.

Several other hedge funds have also made changes to their positions in PNW. MeadowBrook Investment Advisors LLC bought a new stake in Pinnacle West Capital during the 4th quarter valued at $25,000. Blue Trust Inc. raised its stake in Pinnacle West Capital by 377.9% during the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. First United Bank & Trust bought a new stake in Pinnacle West Capital during the 4th quarter valued at $29,000. Cape Investment Advisory Inc. bought a new stake in Pinnacle West Capital during the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. raised its stake in 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 in the last quarter. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the business's 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 completion of the sale, the executive vice president now owns 6,397 shares of the company's stock, valued at $548,862.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company's stock.

Pinnacle West Capital Stock Up 0.4 %

Shares of PNW stock traded up $0.37 on Friday, reaching $87.52. 736,113 shares of the company's stock traded hands, compared to its average volume of 744,758. Pinnacle West Capital Co. has a 12-month low of $65.20 and a 12-month high of $89.39. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The company has a market capitalization of $9.94 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.50. The business's 50 day moving average price is $82.67 and its two-hundred day moving average price is $76.93.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. Pinnacle West Capital's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Pinnacle West Capital Co. will post 4.75 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. Pinnacle West Capital's dividend payout ratio is currently 76.69%.

Analysts Set New Price Targets

A number of research firms have recently commented on PNW. StockNews.com raised Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. LADENBURG THALM/SH SH raised Pinnacle West Capital from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $74.00 to $83.50 in a research note on Thursday, June 6th. Barclays dropped their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on Pinnacle West Capital from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $77.95.

Pinnacle West Capital 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.