Brokerages expect that Pinnacle West Capital Co. (NYSE:PNW) will post $1.44 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Pinnacle West Capital’s earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.47. Pinnacle West Capital reported earnings of $1.49 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 3.4%. The firm is scheduled to issue its next quarterly earnings report on Friday, November 2nd.

According to Zacks, analysts expect that Pinnacle West Capital will report full year earnings of $4.44 per share for the current fiscal year, with EPS estimates ranging from $4.40 to $4.47. For the next fiscal year, analysts forecast that the business will post earnings of $4.72 per share, with EPS estimates ranging from $4.68 to $4.77. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Friday, August 3rd. The utilities provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. The company had revenue of $974.12 million during the quarter, compared to analyst estimates of $939.59 million. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. Pinnacle West Capital’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share.

PNW has been the subject of a number of recent analyst reports. Bank of America raised shares of Pinnacle West Capital from an “underperform” rating to a “neutral” rating and set a $81.00 target price for the company in a research note on Friday, May 4th. They noted that the move was a valuation call. Credit Suisse Group raised shares of Pinnacle West Capital from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $87.00 in a research note on Tuesday, May 8th. ValuEngine lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $82.00 to $78.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 13th. Finally, Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, June 19th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $84.20.

Shares of PNW traded up $0.57 during trading hours on Tuesday, reaching $82.27. 1,510,898 shares of the company traded hands, compared to its average volume of 902,480. The firm has a market capitalization of $9.10 billion, a P/E ratio of 18.91, a P/E/G ratio of 4.09 and a beta of 0.21. Pinnacle West Capital has a 12-month low of $73.41 and a 12-month high of $92.48. The company has a current ratio of 0.50, a quick ratio of 0.36 and a debt-to-equity ratio of 0.81.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 1st will be paid a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 63.91%.

In related news, EVP Mark A. Schiavoni sold 9,534 shares of Pinnacle West Capital stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $79.02, for a total value of $753,376.68. Following the completion of the sale, the executive vice president now directly owns 25,496 shares in the company, valued at $2,014,693.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PNW. Piedmont Investment Advisors LLC bought a new stake in shares of Pinnacle West Capital in the second quarter valued at about $106,000. Silvant Capital Management LLC bought a new stake in shares of Pinnacle West Capital in the first quarter valued at about $127,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Pinnacle West Capital in the first quarter valued at about $151,000. Dupont Capital Management Corp raised its holdings in shares of Pinnacle West Capital by 223.9% in the second quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Pinnacle West Capital by 252.7% in the second quarter. Synovus Financial Corp now owns 2,000 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 1,433 shares in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About Pinnacle West Capital

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 resources. The company serves approximately 1.2 million homes and businesses.

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