Pinnacle West Capital (PNW) Given a $82.00 Price Target by SunTrust Banks Analysts
SunTrust Banks set a $82.00 price objective on Pinnacle West Capital (NYSE:PNW) in a research note published on Tuesday morning. The brokerage currently has a hold rating on the utilities provider’s stock.
Several other equities analysts have also weighed in on PNW. Credit Suisse Group initiated coverage on Pinnacle West Capital in a research note on Wednesday, September 20th. They issued a neutral rating and a $90.00 price objective on the stock. Zacks Investment Research lowered Pinnacle West Capital from a hold rating to a sell rating in a research note on Tuesday, October 10th. Bank of America initiated coverage on Pinnacle West Capital in a research note on Tuesday, October 24th. They issued a neutral rating and a $89.00 price objective on the stock. ValuEngine raised Pinnacle West Capital from a hold rating to a buy rating in a research note on Tuesday, November 14th. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $90.00 to $91.00 and gave the company an underweight rating in a research note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $85.80.
Pinnacle West Capital (NYSE PNW) traded down $0.36 during midday trading on Tuesday, hitting $78.86. The stock had a trading volume of 760,400 shares, compared to its average volume of 681,970. The firm has a market cap of $8,910.00, a price-to-earnings ratio of 17.03, a P/E/G ratio of 5.66 and a beta of 0.38. Pinnacle West Capital has a fifty-two week low of $75.79 and a fifty-two week high of $92.48. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. equities analysts expect that Pinnacle West Capital will post 4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 60.04%.
In related news, Director Michael L. Gallagher sold 2,012 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the transaction, the director now directly owns 12,786 shares of the company’s stock, valued at approximately $1,142,684.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David P. Falck sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now directly owns 40,838 shares in the company, valued at $3,637,440.66. The disclosure for this sale can be found here. Insiders have sold a total of 24,665 shares of company stock worth $2,206,047 over the last three months. 0.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in PNW. AXA increased its holdings in Pinnacle West Capital by 6.5% during the 2nd quarter. AXA now owns 19,620 shares of the utilities provider’s stock worth $1,671,000 after purchasing an additional 1,200 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Pinnacle West Capital by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 345,263 shares of the utilities provider’s stock worth $29,403,000 after purchasing an additional 3,747 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Pinnacle West Capital during the 2nd quarter worth approximately $238,000. Nationwide Fund Advisors increased its holdings in Pinnacle West Capital by 6.4% during the 2nd quarter. Nationwide Fund Advisors now owns 200,740 shares of the utilities provider’s stock worth $17,095,000 after purchasing an additional 11,995 shares during the last quarter. Finally, Profund Advisors LLC increased its holdings in Pinnacle West Capital by 32.1% during the 2nd quarter. Profund Advisors LLC now owns 11,661 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,831 shares during the last quarter. 82.74% of the stock is currently owned by hedge funds and other institutional investors.
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Pinnacle West Capital 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.
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