Pinnacle West Capital Corporation (NYSE:PNW) posted its earnings results on Thursday. The utilities provider reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33, Bloomberg Earnings reports. Pinnacle West Capital Corporation had a return on equity of 10.21% and a net margin of 14.37%. The company had revenue of $944.59 million for the quarter, compared to the consensus estimate of $921.79 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.

Pinnacle West Capital Corporation (PNW) traded down 0.74% on Friday, reaching $88.06. The company had a trading volume of 734,977 shares. The stock has a market capitalization of $9.82 billion, a P/E ratio of 21.39 and a beta of 0.37. Pinnacle West Capital Corporation has a 12 month low of $70.86 and a 12 month high of $89.56. The firm has a 50-day moving average of $86.49 and a 200-day moving average of $83.82.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be paid a $0.655 dividend. The ex-dividend date is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.98%. Pinnacle West Capital Corporation’s payout ratio is presently 57.96%.

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A number of equities research analysts have commented on PNW shares. BMO Capital Markets restated a “hold” rating and issued a $86.00 target price on shares of Pinnacle West Capital Corporation in a research report on Wednesday, May 17th. Morgan Stanley dropped their price objective on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating for the company in a research note on Monday, May 8th. Zacks Investment Research cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $81.78.

In related news, SVP Barbara M. Gomez sold 1,900 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $84.00, for a total value of $159,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Denis A. Cortese sold 1,776 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $83.85, for a total value of $148,917.60. The disclosure for this sale can be found here. Insiders sold a total of 6,476 shares of company stock worth $552,986 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. WealthTrust Arizona LLC increased its stake in shares of Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock valued at $104,000 after buying an additional 9 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Pinnacle West Capital Corporation during the second quarter valued at about $106,000. Tompkins Financial Corp increased its stake in shares of Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares in the last quarter. Amica Retiree Medical Trust increased its stake in shares of Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock valued at $175,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Earnings History for Pinnacle West Capital Corporation (NYSE:PNW)

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