Somewhat Positive Press Coverage Somewhat Unlikely to Affect Pinnacle West Capital Corporation (PNW) Stock Price
Media headlines about Pinnacle West Capital Corporation (NYSE:PNW) have trended somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. 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 media sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the utilities provider an impact score of 46.0448669371504 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Pinnacle West Capital : ACC Approves APS Rate Review Agreement (4-traders.com)
- Pinnacle West Capital Corporation (PNW) Receives Average Rating of “Hold” from Brokerages (americanbankingnews.com)
- Contrasting Eversource Energy (ES) and Pinnacle West Capital Corporation (NYSE:PNW) (americanbankingnews.com)
- Pinnacle West Capital Corporation (NYSE:PNW) Price Target Raised to $83.00 (americanbankingnews.com)
Several brokerages recently commented on PNW. BidaskClub lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Morgan Stanley lifted their price objective on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Finally, Zacks Investment Research raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the company. Pinnacle West Capital Corporation currently has an average rating of “Hold” and an average price target of $81.89.
Shares of Pinnacle West Capital Corporation (PNW) traded up 0.44% during trading on Wednesday, hitting $89.62. The stock had a trading volume of 364,867 shares. The firm has a 50 day moving average price of $86.61 and a 200 day moving average price of $84.62. The firm has a market cap of $10.00 billion, a P/E ratio of 19.79 and a beta of 0.37. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $89.79.
Pinnacle West Capital Corporation (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. The firm had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS. On average, equities analysts expect that Pinnacle West Capital Corporation will post $4.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is presently 57.96%.
In related news, SVP Daniel T. Froetscher sold 2,800 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $87.31, for a total value of $244,468.00. Following the transaction, the senior vice president now directly owns 8,568 shares of the company’s stock, valued at approximately $748,072.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.
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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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