American National Insurance Co. TX Maintains Stake in Pinnacle West Capital Corporation (PNW)

American National Insurance Co. TX maintained its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the utilities provider’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Pinnacle West Capital Corporation were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. WealthTrust Arizona LLC raised its position in shares of Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock worth $104,000 after buying an additional 9 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Pinnacle West Capital Corporation during the second quarter worth approximately $106,000. Tompkins Financial Corp raised its position in shares of Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock worth $113,000 after buying an additional 200 shares during the period. Amica Retiree Medical Trust raised its position in shares of Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock worth $125,000 after buying an additional 840 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock worth $175,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.

Pinnacle West Capital Corporation (NYSE:PNW) traded up 0.46% during mid-day trading on Friday, reaching $89.29. 629,304 shares of the company’s stock were exchanged. Pinnacle West Capital Corporation has a 52-week low of $70.86 and a 52-week high of $89.91. The company has a 50-day moving average of $86.67 and a 200-day moving average of $84.65. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 19.72 and a beta of 0.37.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.33. The firm had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts anticipate that Pinnacle West Capital Corporation will post $4.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is presently 57.96%.

WARNING: “American National Insurance Co. TX Maintains Stake in Pinnacle West Capital Corporation (PNW)” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/19/american-national-insurance-co-tx-has-213000-position-in-pinnacle-west-capital-corporation-pnw-updated-updated-updated.html.

A number of brokerages recently commented on PNW. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. Morgan Stanley upped their price target on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BMO Capital Markets reiterated a “hold” rating and issued a $86.00 price target on shares of Pinnacle West Capital Corporation in a research note on Wednesday, May 17th. Finally, BidaskClub raised shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. Pinnacle West Capital Corporation has a consensus rating of “Hold” and a consensus target price of $81.89.

In related news, SVP Daniel T. Froetscher sold 2,800 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $87.31, for a total value of $244,468.00. Following the transaction, the senior vice president now owns 8,568 shares in the company, valued at approximately $748,072.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Institutional Ownership by Quarter for Pinnacle West Capital Corporation (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply