Foto

Pinnacle West Capital Co. (PNW) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in Pinnacle West Capital Co. (NYSE:PNW) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,925 shares of the utilities provider’s stock after selling 12,351 shares during the period. Toronto Dominion Bank’s holdings in Pinnacle West Capital were worth $5,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackey Komara & Dankovich LLC acquired a new stake in Pinnacle West Capital in the 4th quarter worth $30,000. Bartlett & Co. LLC acquired a new stake in Pinnacle West Capital in the 4th quarter worth $30,000. Sound Income Strategies LLC grew its position in Pinnacle West Capital by 100.0% in the 4th quarter. Sound Income Strategies LLC now owns 600 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 300 shares during the last quarter. First Mercantile Trust Co. grew its position in Pinnacle West Capital by 43.2% in the 4th quarter. First Mercantile Trust Co. now owns 1,060 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 320 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in Pinnacle West Capital by 19.4% in the 4th quarter. ETF Managers Group LLC now owns 1,685 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 84.40% of the company’s stock.

Get Pinnacle West Capital alerts: In related news, EVP Robert S. Bement sold 4,700 shares of the business’s that occurred on Thursday, December 13th. The shares were sold at an average price of $91.22, for a total transaction of $428,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Insiders own 0.53% of the company’s stock.

Shares of PNW traded up $0.09 on Thursday, reaching $93.05. 604 shares of the company’s stock were exchanged, 936,215. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.52. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 4.15 and a beta of 0.19. Pinnacle West Capital Co. has a 12 month low of $73.41 and a 12 month high of $94.02.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Friday, February 22nd. The utilities provider reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. The business had revenue of $756.40 million during the quarter, compared to the consensus estimate of $703.26 million. Pinnacle West Capital had a net margin of 13.71% and a return on equity of 9.68%. Pinnacle West Capital’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, analysts expect that Pinnacle West Capital Co. will post 4.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a dividend of $0.7375 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Thursday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is 64.98%.

Several analysts have recently weighed in on the stock. Credit Suisse Group lifted their target price on shares of Pinnacle West Capital from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada restated a “buy” rating and issued a $92.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, November 14th. ValuEngine lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Goldman Sachs Group lowered shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. Finally, Barclays set a $90.00 price target on shares of Pinnacle West Capital and gave the company a “hold” rating in a research report on Saturday, November 17th. Two investment sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $88.45.

TRADEMARK VIOLATION NOTICE: This article was posted by Stock Observer and is the property of of Stock Observer. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.thestockobserver.com/2019/02/28/pinnacle-west-capital-co-pnw-shares-sold-by-toronto-dominion-bank.html.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

See Also: Net Margin – Understanding the Different Kinds of Profit

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Co. (NYSE:PNW).

Pinnacle West Capital Pinnacle West Capital