Pinnacle West Capital Corp. Announces Quarterly Dividend of $0.57 (PNW)
Pinnacle West Capital Corp. (NYSE:PNW) declared a quarterly dividend on Wednesday, October 23rd, American Banking & Market News reports. Stockholders of record on Friday, November 1st will be given a dividend of $0.5675 per share on Monday, December 2nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.94%.
A number of research firms have recently commented on PNW. Analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital Corp. in a research note to investors on Thursday, September 26th. They now have a $58.00 price target on the stock. On a related note, analysts at Citigroup Inc. upgraded shares of Pinnacle West Capital Corp. from a “sell” rating to a “neutral” rating in a research note to investors on Friday, September 13th. They now have a $57.00 price target on the stock. Finally, analysts at Bank of America Corp. upgraded shares of Pinnacle West Capital Corp. to a “buy” rating in a research note to investors on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.69.
Pinnacle West Capital Corp. (NYSE:PNW) traded up 0.05% on Wednesday, hitting $57.58. The stock had a trading volume of 648,316 shares. Pinnacle West Capital Corp. has a one year low of $48.73 and a one year high of $61.89. The stock’s 50-day moving average is $55.64 and its 200-day moving average is $57.20. The company has a market cap of $6.334 billion and a price-to-earnings ratio of 15.12.
Pinnacle West Capital Corp. (NYSE:PNW) last announced its earnings results on Friday, August 2nd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. The company had revenue of $915.82 million for the quarter, compared to the consensus estimate of $880.80 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, analysts predict that Pinnacle West Capital Corp. will post $3.64 earnings per share for the current fiscal year.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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