Pinnacle West Capital Co. (NYSE:PNW) VP John S. Hatfield sold 2,145 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $76.14, for a total transaction of $163,320.30. Following the completion of the transaction, the vice president now owns 1,443 shares of the company’s stock, valued at $109,870.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Pinnacle West Capital Co. (NYSE PNW) opened at $77.97 on Friday. The firm has a market cap of $8,717.05, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 5.89 and a beta of 0.31. Pinnacle West Capital Co. has a twelve month low of $73.81 and a twelve month high of $92.48. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 0.93.
Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.09. The company had revenue of $759.65 million for the quarter, compared to analysts’ expectations of $773.12 million. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. sell-side analysts anticipate that Pinnacle West Capital Co. will post 4.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st were issued a dividend of $0.695 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.57%. Pinnacle West Capital’s dividend payout ratio (DPR) is 63.91%.
Several analysts recently issued reports on PNW shares. SunTrust Banks reaffirmed a “hold” rating and issued a $91.00 price target on shares of Pinnacle West Capital in a report on Friday, November 24th. Morgan Stanley upped their price target on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th. ValuEngine cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Bank of America cut shares of Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price target on the stock. in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $84.00.
Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Pinnacle West Capital by 1.0% during the fourth quarter. BlackRock Inc. now owns 11,348,077 shares of the utilities provider’s stock worth $966,629,000 after purchasing an additional 114,132 shares during the period. Boston Partners raised its holdings in shares of Pinnacle West Capital by 24.3% during the fourth quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after purchasing an additional 687,119 shares during the period. American Century Companies Inc. raised its holdings in shares of Pinnacle West Capital by 2.5% during the fourth quarter. American Century Companies Inc. now owns 2,674,862 shares of the utilities provider’s stock worth $227,845,000 after purchasing an additional 64,083 shares during the period. Millennium Management LLC raised its holdings in shares of Pinnacle West Capital by 9.8% during the fourth quarter. Millennium Management LLC now owns 2,588,824 shares of the utilities provider’s stock worth $220,516,000 after purchasing an additional 230,870 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Pinnacle West Capital by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 1,250,377 shares of the utilities provider’s stock worth $106,303,000 after purchasing an additional 46,410 shares during the period. 82.65% of the stock is currently owned by institutional investors.
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Pinnacle West Capital Company Profile
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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