Pinnacle West Capital Co. (NYSE:PNW) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $83.00.
A number of research analysts recently weighed in on PNW shares. Zacks Investment Research raised Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 3rd. SunTrust Banks reissued a “hold” rating and issued a $82.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, April 11th.
Shares of Pinnacle West Capital opened at $82.74 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.51, a quick ratio of 0.35 and a debt-to-equity ratio of 0.83. Pinnacle West Capital has a twelve month low of $73.41 and a twelve month high of $92.48. The company has a market capitalization of $9.16 billion, a P/E ratio of 19.02, a P/E/G ratio of 4.10 and a beta of 0.26.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.07). Pinnacle West Capital had a net margin of 13.08% and a return on equity of 9.11%. The company had revenue of $692.71 million during the quarter, compared to the consensus estimate of $680.96 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. research analysts forecast that Pinnacle West Capital will post 4.45 EPS for the current year.
The firm also recently declared 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 annualized dividend and a yield of 3.36%. The ex-dividend date is Tuesday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 63.91%.
In other Pinnacle West Capital news, EVP Mark A. Schiavoni sold 9,534 shares of Pinnacle West Capital stock in a transaction that occurred on 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 directly owns 25,496 shares of the company’s stock, valued at approximately $2,014,693.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silvant Capital Management LLC bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $127,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $151,000. Segall Bryant & Hamill LLC bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $201,000. Signaturefd LLC bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $220,000. Finally, Bridgeworth LLC bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $223,000. Institutional investors and hedge funds own 82.90% of the company’s stock.
Pinnacle West Capital Company Profile
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.
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