ValuEngine upgraded shares of Pinnacle West Capital (NYSE:PNW) from a sell rating to a hold rating in a report issued on Wednesday.
A number of other research analysts also recently commented on PNW. Zacks Investment Research raised Pinnacle West Capital from a hold rating to a buy rating and set a $86.00 price target for the company in a research note on Tuesday, June 19th. Morgan Stanley set a $84.00 price target on Pinnacle West Capital and gave the company a hold rating in a research note on Monday, April 16th. Bank of America raised Pinnacle West Capital from an underperform rating to a neutral rating and set a $81.00 price target for the company in a research note on Friday, May 4th. They noted that the move was a valuation call. Credit Suisse Group raised Pinnacle West Capital from a neutral rating to an outperform rating and boosted their price target for the company from $85.00 to $87.00 in a research note on Tuesday, May 8th. Finally, SunTrust Banks reaffirmed a hold rating and issued a $79.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, March 6th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pinnacle West Capital currently has a consensus rating of Hold and an average price target of $83.82.
Pinnacle West Capital opened at $80.56 on Wednesday, Marketbeat Ratings reports. The stock has a market capitalization of $9.02 billion, a P/E ratio of 19.32, a P/E/G ratio of 4.04 and a beta of 0.28. Pinnacle West Capital has a 52 week low of $73.41 and a 52 week high of $92.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.51 and a quick ratio of 0.35.
Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.07). The company had revenue of $692.71 million during the quarter, compared to analyst estimates of $680.96 million. Pinnacle West Capital had a net margin of 13.08% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. sell-side analysts predict that Pinnacle West Capital will post 4.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 1st will be given a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 31st. Pinnacle West Capital’s dividend payout ratio is presently 63.91%.
In other Pinnacle West Capital news, EVP Mark A. Schiavoni sold 9,534 shares of Pinnacle West Capital stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $79.02, for a total value of $753,376.68. Following the transaction, the executive vice president now owns 25,496 shares in the company, valued at $2,014,693.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Silvant Capital Management LLC bought a new stake in shares of Pinnacle West Capital during the first quarter worth about $127,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Pinnacle West Capital during the first quarter worth about $151,000. Segall Bryant & Hamill LLC bought a new stake in shares of Pinnacle West Capital during the first quarter worth about $201,000. Signaturefd LLC bought a new stake in shares of Pinnacle West Capital during the first quarter worth about $220,000. Finally, Bridgeworth LLC bought a new stake in shares of Pinnacle West Capital during the first quarter worth about $223,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.
About Pinnacle West Capital
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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