Pinnacle West Capital Corporation (PNW) Getting Somewhat Favorable Media Coverage, Analysis Finds
News stories about Pinnacle West Capital Corporation (NYSE:PNW) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Pinnacle West Capital Corporation earned a daily sentiment score of 0.08 on Accern’s scale. Accern also assigned news stories about the utilities provider an impact score of 45.9850808999681 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Pinnacle West Capital Corporation (PNW) opened at 89.27 on Monday. Pinnacle West Capital Corporation has a 52-week low of $70.86 and a 52-week high of $90.92. The firm has a 50 day moving average of $89.04 and a 200-day moving average of $86.23. The stock has a market cap of $9.96 billion, a PE ratio of 19.72 and a beta of 0.38.
Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The business had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. During the same quarter last year, the business earned $1.08 earnings per share. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Pinnacle West Capital Corporation will post $4.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were issued a $0.655 dividend. The ex-dividend date was Friday, July 28th. This represents a $2.62 annualized dividend and a dividend yield of 2.93%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is presently 57.96%.
A number of analysts have recently issued reports on PNW shares. BidaskClub downgraded shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. BMO Capital Markets reissued a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th. Finally, Morgan Stanley boosted their price target on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Pinnacle West Capital Corporation currently has an average rating of “Hold” and an average price target of $83.67.
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In other news, Director Kathryn L. Munro sold 1,806 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $90.28, for a total value of $163,045.68. Following the completion of the sale, the director now owns 17,852 shares in the company, valued at approximately $1,611,678.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David P. Falck sold 4,600 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $89.98, for a total transaction of $413,908.00. Following the completion of the sale, the executive vice president now owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. Insiders sold a total of 41,419 shares of company stock valued at $3,713,068 in the last 90 days. Company insiders own 0.70% of the company’s stock.
About Pinnacle West Capital Corporation
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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