Pinnacle West Capital Corporation (PNW) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of Pinnacle West Capital Corporation (NYSE:PNW) from a hold rating to a buy rating in a research report report published on Tuesday.
A number of other equities analysts have also issued reports on the stock. Morgan Stanley increased their target price on shares of Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the company an underweight rating in a research report on Friday, September 8th. Credit Suisse Group initiated coverage on shares of Pinnacle West Capital Corporation in a research report on Wednesday, September 20th. They issued a neutral rating and a $90.00 target price for the company. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a hold rating to a buy rating and set a $100.00 target price for the company in a research report on Monday, September 11th. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Finally, KeyCorp restated a hold rating on shares of Pinnacle West Capital Corporation in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $86.40.
Shares of Pinnacle West Capital Corporation (NYSE:PNW) traded up $1.92 on Tuesday, reaching $91.71. 1,153,600 shares of the company were exchanged, compared to its average volume of 681,105. The company has a market cap of $10,032.22, a price-to-earnings ratio of 19.39, a PEG ratio of 6.50 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Corporation has a 12-month low of $72.61 and a 12-month high of $91.76.
Pinnacle West Capital Corporation (NYSE:PNW) last announced its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital Corporation had a net margin of 14.67% and a return on equity of 10.31%. Pinnacle West Capital Corporation’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. research analysts anticipate that Pinnacle West Capital Corporation will post 4.27 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.695 per share. This is a positive change from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.78 annualized dividend and a dividend yield of 3.03%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is 60.04%.
In other Pinnacle West Capital Corporation news, Chairman Donald E. Brandt sold 35,013 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the completion of the sale, the chairman now directly owns 118,574 shares of the company’s stock, valued at $10,620,673.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn L. Munro sold 1,806 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the sale, the director now directly owns 17,852 shares of the company’s stock, valued at $1,611,678.56. The disclosure for this sale can be found here. Insiders have sold 61,584 shares of company stock valued at $5,518,300 over the last ninety days. Insiders own 0.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PNW. WealthTrust Arizona LLC lifted its stake in Pinnacle West Capital Corporation by 0.7% during the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after buying an additional 9 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Pinnacle West Capital Corporation during the second quarter valued at about $109,000. Parallel Advisors LLC lifted its stake in Pinnacle West Capital Corporation by 3.6% during the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Pinnacle West Capital Corporation by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new stake in Pinnacle West Capital Corporation during the third quarter valued at about $205,000. 85.15% of the stock is owned by institutional investors.
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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