Pinnacle West Capital Corp. VP Daniel Froetscher Unloads 3,000 Shares (PNW)
Pinnacle West Capital Corp. (NYSE:PNW) VP Daniel Froetscher unloaded 3,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $52.83, for a total transaction of $158,490.00. Following the completion of the sale, the vice president now directly owns 5,364 shares in the company, valued at approximately $283,380. The transaction was disclosed in a document filed with the SEC, which is available at this link.
PNW has been the subject of a number of recent research reports. Analysts at CRT Capital initiated coverage on shares of Pinnacle West Capital Corp. in a research note to investors on Tuesday, November 5th. They set a “fair value” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Pinnacle West Capital Corp. in a research note to investors on Friday, November 1st. They now have a $59.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Pinnacle West Capital Corp. from $52.00 to $54.00 in a research note to investors on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.17.
Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded up 0.19% during mid-day trading on Friday, hitting $52.15. 597,742 shares of the company’s stock traded hands. Pinnacle West Capital Corp. has a one year low of $51.50 and a one year high of $61.89. The stock has a 50-day moving average of $53.48 and a 200-day moving average of $55.36. The company has a market cap of $5.739 billion and a price-to-earnings ratio of 14.28.
Pinnacle West Capital Corp. (NYSE:PNW) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.15 by $0.11. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts predict that Pinnacle West Capital Corp. will post $3.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Thursday, January 30th.
Pinnacle West Capital Corporation (NYSE:PNW) is a holding company that conducts business through its subsidiaries.
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