Creative Planning Acquires 6,322 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Creative Planning lifted its stake in Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 36.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,444 shares of the utilities provider's stock after acquiring an additional 6,322 shares during the period. Creative Planning's holdings in Pinnacle West Capital were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Cape Investment Advisory Inc. acquired a new position in Pinnacle West Capital in the 1st quarter valued at $30,000. Newbridge Financial Services Group Inc. raised its holdings in Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider's stock worth $35,000 after acquiring an additional 199 shares during the period. Rise Advisors LLC acquired a new position in Pinnacle West Capital during the 1st quarter worth $36,000. Finally, Riverview Trust Co acquired a new position in Pinnacle West Capital during the 1st quarter worth $46,000. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Robert Edgar Smith sold 4,950 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company's stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW traded down $0.42 during midday trading on Tuesday, reaching $86.69. 782,965 shares of the company's stock were exchanged, compared to its average volume of 1,117,672. 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's 50 day simple moving average is $87.88 and its two-hundred day simple moving average is $80.52. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $91.57. The firm has a market capitalization of $9.84 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect that Pinnacle West Capital Co. will post 4.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent analyst reports. StockNews.com upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. 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 increased their price objective on 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 raised their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group assumed 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $80.54.

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.