Shares of Pinnacle West Capital Corporation (NYSE:PNW) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $76.17.

Several equities research analysts recently commented on PNW shares. SunTrust Banks, Inc. upped their target price on Pinnacle West Capital Corporation from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Zacks Investment Research lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Williams Capital upgraded Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, October 10th. Finally, Bank of America upgraded Pinnacle West Capital Corporation from an “underperform” rating to a “neutral” rating in a research report on Tuesday, November 22nd.

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Shares of Pinnacle West Capital Corporation (NYSE:PNW) opened at 77.26 on Wednesday. The company’s 50 day moving average price is $76.60 and its 200-day moving average price is $76.58. Pinnacle West Capital Corporation has a 12 month low of $62.51 and a 12 month high of $82.78. The stock has a market capitalization of $8.60 billion, a P/E ratio of 20.10 and a beta of 0.27.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results on Thursday, November 3rd. The company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by $0.06. Pinnacle West Capital Corporation had a net margin of 12.30% and a return on equity of 8.97%. The company earned $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $2.30 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Pinnacle West Capital Corporation will post $3.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 1st will be issued a $0.655 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $2.62 annualized dividend and a yield of 3.39%. This is a positive change from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.12. Pinnacle West Capital Corporation’s dividend payout ratio is presently 68.23%.

In other Pinnacle West Capital Corporation news, EVP David P. Falck sold 5,331 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $76.68, for a total value of $408,781.08. Following the transaction, the executive vice president now owns 41,798 shares in the company, valued at $3,205,070.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Gallagher sold 5,000 shares of the stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $73.41, for a total value of $367,050.00. Following the completion of the transaction, the director now owns 19,798 shares in the company, valued at approximately $1,453,371.18. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. raised its position in shares of Pinnacle West Capital Corporation by 1.1% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 26,216 shares of the company’s stock valued at $2,046,000 after buying an additional 286 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Pinnacle West Capital Corporation by 43.2% in the third quarter. D.A. Davidson & CO. now owns 3,859 shares of the company’s stock valued at $293,000 after buying an additional 1,165 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinnacle West Capital Corporation by 11.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 222,390 shares of the company’s stock valued at $16,899,000 after buying an additional 22,170 shares during the last quarter. Credit Suisse AG raised its position in shares of Pinnacle West Capital Corporation by 6.7% in the third quarter. Credit Suisse AG now owns 231,442 shares of the company’s stock valued at $17,588,000 after buying an additional 14,451 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new position in shares of Pinnacle West Capital Corporation during the third quarter valued at about $300,000. Institutional investors and hedge funds own 81.16% of the company’s stock.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

5 Day Chart for NYSE:PNW

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