Pinnacle West Capital Co. (NYSE:PNW) – Analysts at SunTrust Banks reduced their FY2019 earnings per share estimates for Pinnacle West Capital in a report released on Friday, August 9th. SunTrust Banks analyst A. Agha now expects that the utilities provider will post earnings per share of $4.75 for the year, down from their previous estimate of $4.80. SunTrust Banks has a “Hold” rating and a $98.00 price objective on the stock. SunTrust Banks also issued estimates for Pinnacle West Capital’s Q1 2020 earnings at $0.17 EPS, Q3 2020 earnings at $3.03 EPS, Q4 2020 earnings at $0.49 EPS and Q1 2021 earnings at $0.18 EPS.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.15). The company had revenue of $869.50 million for the quarter, compared to analyst estimates of $973.16 million. Pinnacle West Capital had a net margin of 13.84% and a return on equity of 9.31%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the business earned $1.48 EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Monday, May 20th. ValuEngine lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Williams Capital reaffirmed a “hold” rating and issued a $97.00 price objective (up previously from $87.00) on shares of Pinnacle West Capital in a research note on Monday. Argus raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Tuesday, July 30th. Finally, Credit Suisse Group set a $102.00 price objective on shares of Pinnacle West Capital and gave the company a “buy” rating in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $97.17.

PNW stock opened at $92.97 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.36 and a current ratio of 0.55. Pinnacle West Capital has a 1 year low of $77.19 and a 1 year high of $99.81. The firm has a fifty day simple moving average of $93.53. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.79 and a beta of 0.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a $0.738 dividend. This represents a $2.95 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s payout ratio is presently 64.98%.

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Pinnacle West Capital by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 1,530,593 shares of the utilities provider’s stock worth $130,192,000 after purchasing an additional 117,893 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Pinnacle West Capital during the 4th quarter worth $256,000. FMR LLC grew its stake in Pinnacle West Capital by 19.5% during the 4th quarter. FMR LLC now owns 940,646 shares of the utilities provider’s stock worth $80,143,000 after purchasing an additional 153,450 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pinnacle West Capital by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 484,326 shares of the utilities provider’s stock worth $41,265,000 after purchasing an additional 7,360 shares in the last quarter. Finally, Huntington National Bank grew its stake in Pinnacle West Capital by 145.8% during the 1st quarter. Huntington National Bank now owns 1,180 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 700 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Company Profile

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.

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Earnings History and Estimates for Pinnacle West Capital (NYSE:PNW)

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