Traders are more bullish on the company lately if you take a look at the fall in short interest. The stock recorded a fall in short interest from August 15, 2017 to August 31, 2017 of -7.53%. Short shares decreased 206,385 over that timeframe. The short-interest ratio decreased to 4.0 and the percentage of shorted shares is 0.02% as of August 31.
Here is a rundown on some insider market activity for Pinnacle West Capital Corporati (NYSE:PNW). EVP, Law David P. Falck disclosed the sale of 4,600 shares of PNW stock. The shares were sold on August 24th for an average price of $89.98. The EVP, Law now owns $3,854,743 of the stock according to the SEC filing.
These firms have modified their investment in PNW. As of the end of the quarter Cantab Capital Partners Llp had bought 2,671 shares growing its position 109.9%. The value of the investment in PNW went from $203,000 to $434,000,000 increasing 213,693.1% since the last quarter. Lnz Capital Lp added to its stake by buying 106,264 shares an increase of 10.5% as of 06/30/2017. Lnz Capital Lp currently owns 1,117,664 shares worth $95,180,000. The total value of its holdings increased 12.9%.
As of quarter end Perkins Investment Management, LLC had disposed of a total of 52,771 shares trimming its stake by 7.0%. The value of the investment in (PNW) decreased from $58,669,000 to $58,291,000 a change of $378,000 for the reporting period. Forsta Ap-fonden augmented its holdings by buying 10,300 shares an increase of 10.4% from 03/31/2017 to 06/30/2017. Forsta Ap-fonden controls 109,586 shares with a value of $9,332,000. The value of the position overall is up by 12.7%.
September 8 investment analysts at Morgan Stanley kept the company rating at “Underweight” and moved up the price target to $86.00 from $83.00. On August 10 Morgan Stanley left the stock rating at “Underweight” but raised the price expectation from $79.00 to $83.00.
The company is trading down by 0.29%% since yesterday’s close of 88.28. Additionally Pinnacle West Capital Corporati declared a dividend for shareholders that was paid on Friday the 1st of September 2017. The dividend was $0.655 per share for the quarter or $2.62 annualized. This dividend amount was represent a yield of $2.93. The ex-dividend date was Friday the 28th of July 2017.
The stock is trading at $88.02 just below the 50 day moving average which is $89.15 and just a bit higher than the 200 day moving average of $86.36. The 50 day moving average was down by -1.27% whereas the 200 day average was up by +1.92%.
The company’s P/E ratio is 19.44 and market capitalization is 9.83B. As of the latest earnings report the EPS was $4.53 and is estimated to be $4.25 for the current year with 111,624,000 shares presently outstanding. Next quarter’s EPS is expected be $0.33 with next year’s EPS anticipated to be $4.48.
Pinnacle West Capital Corporation, launched on February 20, 1985, 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. The Business’s subsidiaries include Arizona Public Service Company (APS), which is a vertically-integrated electric utility that provides retail or wholesale electric service to the State of Arizona, with the exceptions of one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona..