Pinnacle West Capital Corp. (PNW) Trading Down 2.5%
Pinnacle West Capital Corp. (NYSE:PNW) traded down 2.5% on Friday . The stock traded as low as $74.75 and last traded at $74.83, with a volume of 402,105 shares traded. The stock had previously closed at $76.73.
Several equities research analysts recently weighed in on the stock. BMO Capital Markets reiterated a “hold” rating on shares of Pinnacle West Capital Corp. in a research note on Monday, July 18th. Zacks Investment Research lowered shares of Pinnacle West Capital Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Royal Bank Of Canada restated a “sector perfor” rating and issued a $69.00 price target (down previously from $73.00) on shares of Pinnacle West Capital Corp. in a research note on Monday, June 20th. Finally, Mizuho raised their price target on shares of Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Pinnacle West Capital Corp. currently has an average rating of “Hold” and a consensus price target of $70.56.
The stock’s 50-day moving average is $78.34 and its 200-day moving average is $74.70. The company has a market capitalization of $8.32 billion and a price-to-earnings ratio of 19.76.
Pinnacle West Capital Corp. (NYSE:PNW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by $0.06. The business had revenue of $915.40 million for the quarter, compared to the consensus estimate of $915.40 million. Pinnacle West Capital Corp.’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, equities analysts anticipate that Pinnacle West Capital Corp. will post $3.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 1st will be given a $0.625 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $2.50 annualized dividend and a yield of 3.34%.
In other news, SVP Robert S. Bement sold 4,300 shares of Pinnacle West Capital Corp. stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $75.75, for a total transaction of $325,725.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
A hedge fund recently raised its stake in Pinnacle West Capital Corp. stock. BNP Paribas Arbitrage SA raised its stake in shares of Pinnacle West Capital Corp. (NYSE:PNW) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,762 shares of the company’s stock after buying an additional 9,577 shares during the period. BNP Paribas Arbitrage SA owned about 0.16% of Pinnacle West Capital Corp. worth $11,204,000 as of its most recent filing with the SEC.
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.
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