Pinnacle West Capital Corp (PNW) Files Form 4 Insider Selling : Denis A. Cortese Sells 2,000 Shares

Pinnacle West Capital Corp (PNW): Denis A. Cortese , director of Pinnacle West Capital Corp sold 2,000 shares on May 6, 2016. The Insider selling transaction was reported by the company on May 10, 2016 to the Securities and Exchange Commission. The shares were sold at $72.87 per share for a total value of $145,740.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Mar 11, 2016, Barbara M Gomez (other) sold 2,100 shares at $70.61 per share price.On Mar 11, 2016, Denise R Danner (VP, Controller & CAO) sold 2,175 shares at $70.83 per share price.Also, On Mar 4, 2016, Daniel T Froetscher (other) sold 1,805 shares at $68.30 per share price.On Mar 2, 2016, Lee R. Nickloy (VP and Treasurer) sold 3,000 shares at $68.34 per share price.

Shares of Pinnacle West Capital Corporation (PNW) ended Friday, May 6, 2016 session in red amid volatile trading. The shares closed down -0.24 points or -0.33% at $72.98 with 7,13,638 shares getting traded. Post opening the session at $73.15, the shares hit an intraday low of $72.21 and an intraday high of $73.15 and the price vacillated in this range throughout the day. The company has a market cap of $8,111 M and the number of outstanding shares has been calculated to be 11,11,39,995 shares. The 52-week high of Pinnacle West Capital Corporation is $75.81 and the 52-week low is $56.01.

Pinnacle West Capital Corporation Money Flow Index Chart

Company has been under the radar of several Street Analysts.Pinnacle West Capital Corporation is Reiterated by RBC Capital Mkts to Sector Perform and the brokerage firm has raised the Price Target to $ 69 from a previous price target of $68 .The Rating was issued on Feb 22, 2016.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Company’s operations primarily include electricity generation transmission and distribution. The Company’s subsidiaries include Arizona Public Service Company (APS) a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona with the exceptions of about one-half of the Phoenix metropolitan area the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal nuclear gas oil and solar generating facilities.

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