American National Registered Investment Advisor Inc. Has $426,000 Position in Pinnacle West Capital Corporation (NYSE:PNW)

American National Registered Investment Advisor Inc. held 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 5,000 shares of the utilities provider’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in Pinnacle West Capital Corporation were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WealthTrust Arizona LLC increased 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 last quarter. Eqis Capital Management Inc. increased its position in shares of Pinnacle West Capital Corporation by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 3,928 shares of the utilities provider’s stock worth $334,000 after buying an additional 39 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Pinnacle West Capital Corporation by 2.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,315 shares of the utilities provider’s stock worth $193,000 after buying an additional 50 shares during the last quarter. Mirador Capital Partners LP increased its position in shares of Pinnacle West Capital Corporation by 1.8% in the first quarter. Mirador Capital Partners LP now owns 2,923 shares of the utilities provider’s stock worth $244,000 after buying an additional 52 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Pinnacle West Capital Corporation by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 12,721 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 55 shares during the last quarter. 83.02% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Corporation (NYSE:PNW) last announced 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 company had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid a dividend of $0.655 per share. The ex-dividend date is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a yield of 2.98%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is presently 57.96%.

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Several research analysts have commented on the company. BidaskClub downgraded Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Friday. Morgan Stanley dropped their price target on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research report on Monday, May 8th. Finally, Zacks Investment Research raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.78.

In other Pinnacle West Capital Corporation news, SVP Barbara M. Gomez sold 1,900 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $84.00, for a total transaction of $159,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daniel T. Froetscher sold 2,800 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,476 shares of company stock worth $552,986. Corporate insiders own 0.70% of the company’s stock.

About Pinnacle West Capital Corporation

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.