Wall Street brokerages forecast that Pinnacle West Capital Co. (NYSE:PNW) will post $1.56 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Pinnacle West Capital’s earnings, with the highest EPS estimate coming in at $1.64 and the lowest estimate coming in at $1.46. Pinnacle West Capital reported earnings per share of $1.48 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The company is scheduled to issue its next earnings report on Friday, August 2nd.

According to Zacks, analysts expect that Pinnacle West Capital will report full-year earnings of $4.85 per share for the current financial year, with EPS estimates ranging from $4.82 to $4.87. For the next financial year, analysts forecast that the company will report earnings of $5.08 per share, with EPS estimates ranging from $5.00 to $5.17. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Pinnacle West Capital.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $740.53 million for the quarter, compared to the consensus estimate of $718.60 million. Pinnacle West Capital had a return on equity of 9.84% and a net margin of 14.06%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS.

A number of analysts have weighed in on PNW shares. Wells Fargo & Co cut shares of Pinnacle West Capital from an “outperform” rating to a “market perform” rating and set a $87.36 target price on the stock. in a research note on Wednesday, January 30th. Credit Suisse Group boosted their target price on shares of Pinnacle West Capital from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Royal Bank of Canada cut shares of Pinnacle West Capital from an “outperform” rating to a “sector perform” rating and set a $93.00 target price on the stock. in a research note on Friday, March 1st. Williams Capital reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Monday, March 18th. Finally, Bank of America raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $94.09.

In other news, VP Lee R. Nickloy sold 1,000 shares of Pinnacle West Capital stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $93.50, for a total transaction of $93,500.00. Following the transaction, the vice president now owns 931 shares in the company, valued at $87,048.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael L. Gallagher sold 5,000 shares of Pinnacle West Capital stock in a transaction on Monday, May 13th. The stock was sold at an average price of $95.90, for a total transaction of $479,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,420 shares of company stock worth $4,895,239. 0.41% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Pinnacle West Capital by 59.6% in the third quarter. JPMorgan Chase & Co. now owns 240,727 shares of the utilities provider’s stock valued at $19,062,000 after buying an additional 89,851 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Pinnacle West Capital by 16.1% in the third quarter. TIAA CREF Investment Management LLC now owns 1,652,247 shares of the utilities provider’s stock valued at $130,825,000 after buying an additional 229,299 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Pinnacle West Capital by 4.0% in the third quarter. Legal & General Group Plc now owns 1,135,033 shares of the utilities provider’s stock valued at $89,865,000 after buying an additional 43,880 shares in the last quarter. Morgan Stanley grew its stake in shares of Pinnacle West Capital by 13.0% in the third quarter. Morgan Stanley now owns 358,544 shares of the utilities provider’s stock valued at $28,389,000 after buying an additional 41,383 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Pinnacle West Capital by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 12,162,967 shares of the utilities provider’s stock valued at $963,063,000 after purchasing an additional 155,601 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Shares of NYSE PNW traded down $0.65 during midday trading on Friday, reaching $96.67. 568,244 shares of the company were exchanged, compared to its average volume of 1,006,005. The stock has a market cap of $10.85 billion, a PE ratio of 21.29, a PEG ratio of 3.96 and a beta of 0.18. Pinnacle West Capital has a one year low of $73.41 and a one year high of $97.37. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.36 and a current ratio of 0.55.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.7375 per share. The ex-dividend date is Tuesday, April 30th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.05%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 64.98%.

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 generating facilities. The company serves approximately 1.2 million customers.

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