SG Americas Securities LLC Increases Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

SG Americas Securities LLC lifted its stake in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 415.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,637 shares of the utilities provider's stock after purchasing an additional 109,329 shares during the period. SG Americas Securities LLC owned 0.12% of Pinnacle West Capital worth $12,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PNW. Blue Trust Inc. lifted its position in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock worth $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at about $30,000. Newbridge Financial Services Group Inc. boosted its position in shares of 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 during the last quarter. Rise Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the first quarter valued at about $36,000. Finally, Riverview Trust Co acquired a new stake in Pinnacle West Capital during the first quarter worth about $46,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pinnacle West Capital

In other 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 directly owns 6,397 shares of the company's stock, valued at approximately $548,862.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. StockNews.com upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Morgan Stanley increased their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Barclays reduced their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an "overweight" rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a "buy" rating and a $104.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of "Hold" and an average target price of $80.54.

Pinnacle West Capital Stock Down 1.7 %

Shares of PNW traded down $1.55 during midday trading on Friday, hitting $87.98. The company had a trading volume of 1,359,628 shares, compared to its average volume of 1,121,301. The company's 50-day simple moving average is $87.82 and its 200-day simple moving average is $80.27. The firm has a market capitalization of $9.99 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.30 and a beta of 0.52. Pinnacle West Capital Co. has a 1 year low of $65.20 and a 1 year high of $91.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The company's revenue was up 15.7% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, sell-side analysts expect that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

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.