Pinnacle West Capital Corporation (NYSE:PNW) EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total transaction of $413,908.00. Following the sale, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at $3,854,743.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pinnacle West Capital Corporation (PNW) opened at 90.44 on Tuesday. The company’s 50 day moving average is $87.42 and its 200-day moving average is $85.18. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 19.97 and a beta of 0.37. Pinnacle West Capital Corporation has a 12 month low of $70.86 and a 12 month high of $90.47.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.33. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The business had revenue of $944.59 million during the quarter, compared to analysts’ expectations of $921.79 million. During the same quarter last year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Pinnacle West Capital Corporation will post $4.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is currently 57.96%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Pinnacle West Capital Corporation during the first quarter worth $348,000. Jennison Associates LLC boosted its position in shares of Pinnacle West Capital Corporation by 199.5% in the first quarter. Jennison Associates LLC now owns 611,078 shares of the utilities provider’s stock worth $50,952,000 after buying an additional 407,026 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Pinnacle West Capital Corporation by 65.7% in the first quarter. Canada Pension Plan Investment Board now owns 12,110 shares of the utilities provider’s stock worth $1,010,000 after buying an additional 4,800 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Pinnacle West Capital Corporation by 2.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,125 shares of the utilities provider’s stock worth $4,179,000 after buying an additional 978 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Pinnacle West Capital Corporation by 20.9% in the first quarter. IFP Advisors Inc now owns 2,530 shares of the utilities provider’s stock worth $211,000 after buying an additional 438 shares in the last quarter. Institutional investors and hedge funds own 84.18% of the company’s stock.

A number of analysts have recently issued reports on PNW shares. BMO Capital Markets reissued a “hold” rating and issued a $86.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Wednesday, May 17th. BidaskClub raised shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research cut shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Morgan Stanley reduced their price objective on shares of 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. Finally, Royal Bank Of Canada reissued 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $81.89.

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.

Insider Buying and Selling by Quarter for Pinnacle West Capital Corporation (NYSE:PNW)

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