Pinnacle West Capital Co. (NYSE:PNW)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $96.05 and traded as high as $96.75. Pinnacle West Capital shares last traded at $95.46, with a volume of 10,600 shares trading hands.
Several brokerages have commented on PNW. Williams Capital restated a “hold” rating on shares of Southwest Gas in a research note on Monday, March 18th. Morgan Stanley restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Wednesday, June 12th. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Credit Suisse Group set a $199.00 price target on shares of NextEra Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Bank of America reiterated a “hold” rating and issued a $212.00 price objective on shares of Goldman Sachs Group in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $93.36.
The company’s fifty day moving average is $96.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.55 and a quick ratio of 0.36. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 3.97 and a beta of 0.18.
Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $740.53 million during the quarter, compared to the consensus estimate of $718.60 million. Pinnacle West Capital had a net margin of 14.06% and a return on equity of 9.84%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. Equities analysts anticipate that Pinnacle West Capital Co. will post 4.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $0.738 dividend. The ex-dividend date is Wednesday, July 31st. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a dividend yield of 3.15%. Pinnacle West Capital’s dividend payout ratio (DPR) is 64.98%.
In related news, Director Michael L. Gallagher sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $95.90, for a total transaction of $479,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denis A. Cortese sold 3,014 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $94.12, for a total transaction of $283,677.68. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC bought a new stake in Pinnacle West Capital during the second quarter worth approximately $1,781,000. Contravisory Investment Management Inc. acquired a new position in Pinnacle West Capital in the 2nd quarter worth approximately $322,000. Dorsey Wright & Associates acquired a new position in Pinnacle West Capital in the 2nd quarter worth approximately $289,000. Amundi Pioneer Asset Management Inc. boosted its stake in Pinnacle West Capital by 63.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 162,326 shares of the utilities provider’s stock worth $15,515,000 after purchasing an additional 63,204 shares during the period. Finally, Weaver Consulting Group acquired a new position in Pinnacle West Capital in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 85.15% of the company’s stock.
About Pinnacle West Capital (NYSE:PNW)
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 generating facilities. The company serves approximately 1.2 million customers.
See Also: Institutional Investors
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