Pinnacle West Capital Corporation (NYSE:PNW) Given Consensus Rating of “Hold” by Brokerages

Pinnacle West Capital Corporation (NYSE:PNW) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $96.20.

PNW has been the subject of several recent research reports. Barclays dropped their price target on shares of Pinnacle West Capital from $94.00 to $93.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Morgan Stanley set a $89.00 price target on shares of Pinnacle West Capital and gave the stock an “outperform” rating in a research report on Thursday, August 21st. KeyCorp dropped their price target on shares of Pinnacle West Capital from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. BMO Capital Markets increased their price target on shares of Pinnacle West Capital from $96.00 to $98.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Finally, Mizuho lowered shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $90.00 in a research report on Tuesday.

Pinnacle West Capital Stock Down 0.2%

Shares of PNW opened at $88.19 on Friday. The company has a 50-day simple moving average of $90.74 and a 200-day simple moving average of $91.37. The firm has a market capitalization of $10.53 billion, a P/E ratio of 18.18, a P/E/G ratio of 9.13 and a beta of 0.45. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52. Pinnacle West Capital has a 52 week low of $81.47 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, meeting analysts’ consensus estimates of $1.58. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, equities research analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st were paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, August 1st. Pinnacle West Capital’s dividend payout ratio is currently 73.81%.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $92.37, for a total transaction of $600,035.52. Following the sale, the executive vice president directly owned 56 shares of the company’s stock, valued at approximately $5,172.72. This represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Large investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in Pinnacle West Capital during the first quarter worth about $25,000. Costello Asset Management INC bought a new stake in Pinnacle West Capital during the first quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new stake in Pinnacle West Capital during the second quarter worth about $27,000. Ameritas Advisory Services LLC bought a new stake in Pinnacle West Capital during the second quarter worth about $31,000. Finally, MUFG Securities EMEA plc bought a new stake in Pinnacle West Capital during the second quarter worth about $32,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.