Pinnacle West Capital Co. (NYSE:PNW) EVP David P. Falck sold 4,500 shares of Pinnacle West Capital stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now directly owns 40,838 shares in the company, valued at approximately $3,637,440.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Pinnacle West Capital Co. (PNW) traded down $0.65 during midday trading on Thursday, hitting $79.92. The company had a trading volume of 432,786 shares, compared to its average volume of 663,836. The firm has a market cap of $9,000.00, a PE ratio of 17.26, a price-to-earnings-growth ratio of 5.89 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Co. has a twelve month low of $75.79 and a twelve month high of $92.48.
Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. Pinnacle West Capital’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 earnings per share. sell-side analysts expect that Pinnacle West Capital Co. will post 4.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.695 per share. The ex-dividend date is Wednesday, January 31st. This represents a $2.78 annualized dividend and a yield of 3.48%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 60.04%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its stake in shares of Pinnacle West Capital by 7.9% in the second quarter. IFP Advisors Inc now owns 2,730 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 200 shares during the period. Retirement Systems of Alabama increased its stake in Pinnacle West Capital by 0.5% during the second quarter. Retirement Systems of Alabama now owns 54,090 shares of the utilities provider’s stock valued at $4,606,000 after acquiring an additional 271 shares during the period. Canada Pension Plan Investment Board increased its stake in Pinnacle West Capital by 30.6% during the second quarter. Canada Pension Plan Investment Board now owns 15,810 shares of the utilities provider’s stock valued at $1,346,000 after acquiring an additional 3,700 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Pinnacle West Capital by 4.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 507,078 shares of the utilities provider’s stock valued at $43,183,000 after acquiring an additional 20,097 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Pinnacle West Capital by 65.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 23,067 shares of the utilities provider’s stock valued at $2,008,000 after acquiring an additional 9,124 shares during the period. Institutional investors own 82.72% of the company’s stock.
A number of analysts have commented on the company. Credit Suisse Group assumed coverage on Pinnacle West Capital in a research report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price on the stock. Zacks Investment Research downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. SunTrust Banks restated a “hold” rating and issued a $84.00 price objective on shares of Pinnacle West Capital in a research report on Thursday, October 12th. Bank of America began coverage on Pinnacle West Capital in a research note on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price target for the company. Finally, ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.40.
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About Pinnacle West Capital
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.
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