Pinnacle West Capital Co. (NYSE:PNW) – Stock analysts at KeyCorp lowered their FY2018 earnings per share (EPS) estimates for Pinnacle West Capital in a research note issued to investors on Wednesday, April 18th. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will post earnings per share of $4.40 for the year, down from their previous estimate of $4.45. KeyCorp also issued estimates for Pinnacle West Capital’s FY2019 earnings at $4.70 EPS.
Other equities research analysts have also recently issued reports about the company. SunTrust Banks set a $81.00 price objective on Pinnacle West Capital and gave the company a “hold” rating in a research report on Monday, February 12th. Zacks Investment Research cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Morgan Stanley set a $84.00 price objective on Pinnacle West Capital and gave the company a “hold” rating in a research report on Monday. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Pinnacle West Capital in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.91.
Pinnacle West Capital stock opened at $79.24 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.61 and a current ratio of 0.85. Pinnacle West Capital has a one year low of $73.81 and a one year high of $92.48. The firm has a market cap of $8,960.75, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 6.06 and a beta of 0.27.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The company had revenue of $759.65 million for the quarter, compared to analysts’ expectations of $773.12 million. During the same period last year, the firm posted $0.47 earnings per share. Pinnacle West Capital’s revenue was up 2.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 1st will be issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.51%. Pinnacle West Capital’s dividend payout ratio is 63.91%.
In other Pinnacle West Capital news, VP John S. Hatfield sold 2,145 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $76.14, for a total value of $163,320.30. Following the transaction, the vice president now owns 1,443 shares of the company’s stock, valued at $109,870.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Donald E. Brandt sold 24,216 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $79.21, for a total value of $1,918,149.36. Following the completion of the transaction, the chairman now directly owns 94,358 shares in the company, valued at approximately $7,474,097.18. The disclosure for this sale can be found here. In the last three months, insiders sold 68,110 shares of company stock worth $5,300,760. 0.53% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PNW. Renaissance Technologies LLC raised its stake in shares of Pinnacle West Capital by 803.8% in the fourth quarter. Renaissance Technologies LLC now owns 776,400 shares of the utilities provider’s stock worth $66,134,000 after buying an additional 690,500 shares during the period. Boston Partners raised its stake in shares of Pinnacle West Capital by 24.3% in the fourth quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after buying an additional 687,119 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Pinnacle West Capital by 151.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 824,565 shares of the utilities provider’s stock worth $70,236,000 after buying an additional 496,328 shares during the period. Two Sigma Advisers LP raised its stake in shares of Pinnacle West Capital by 397.6% in the fourth quarter. Two Sigma Advisers LP now owns 509,783 shares of the utilities provider’s stock worth $43,423,000 after buying an additional 407,325 shares during the period. Finally, Zimmer Partners LP bought a new position in shares of Pinnacle West Capital in the fourth quarter worth about $26,619,000. 82.65% of the stock is currently owned by hedge funds and other institutional investors.
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Pinnacle West Capital Company Profile
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 resources. The company serves approximately 1.2 million homes and businesses.
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