TriaGen Wealth Management LLC Acquires Shares of 2,477 Pinnacle West Capital Co. (NYSE:PNW)

TriaGen Wealth Management LLC acquired a new stake in Pinnacle West Capital Co. (NYSE:PNW) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,477 shares of the utilities provider’s stock, valued at approximately $219,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after buying an additional 291 shares during the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital in the 1st quarter valued at $30,000. Riverview Trust Co acquired a new position in shares of Pinnacle West Capital in the 1st quarter valued at $46,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Pinnacle West Capital by 151.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 659 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 397 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Pinnacle West Capital in the 2nd quarter valued at $52,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Robert Edgar Smith sold 4,950 shares of the firm’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 transaction, the executive vice president now owns 6,397 shares in the company, valued at $548,862.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Pinnacle West Capital Stock Up 1.0 %

Shares of PNW traded up $0.83 during midday trading on Friday, hitting $87.92. The stock had a trading volume of 2,483,155 shares, compared to its average volume of 1,124,367. The company has a 50 day simple moving average of $87.97 and a two-hundred day simple moving average of $81.15. Pinnacle West Capital Co. has a twelve month low of $65.20 and a twelve month high of $91.57. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts anticipate that Pinnacle West Capital Co. will post 4.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PNW shares. Wells Fargo & Company increased their price target on Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Jefferies Financial Group started coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. 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. Finally, Morgan Stanley raised their price objective on 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $80.79.

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.