Pinnacle West Capital Corporation (NYSE:PNW) – Equities researchers at Williams Capital raised their Q2 2017 earnings estimates for shares of Pinnacle West Capital Corporation in a research report issued to clients and investors on Monday. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will earn $1.24 per share for the quarter, up from their previous forecast of $1.10. Williams Capital also issued estimates for Pinnacle West Capital Corporation’s Q3 2017 earnings at $2.66 EPS, Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $4.36 EPS, Q1 2018 earnings at $0.23 EPS, Q3 2018 earnings at $2.73 EPS, Q4 2018 earnings at $0.34 EPS and FY2019 earnings at $4.85 EPS.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. Pinnacle West Capital Corporation had a net margin of 13.17% and a return on equity of 9.40%. The company had revenue of $677.73 million during the quarter, compared to the consensus estimate of $704.09 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was up .1% compared to the same quarter last year.

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A number of other analysts have also commented on PNW. Morgan Stanley cut their price objective on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research report on Monday, May 8th. BMO Capital Markets reissued a “hold” rating and issued a $86.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Wednesday, May 17th. BidaskClub lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Zacks Investment Research lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $80.50.

Pinnacle West Capital Corporation (NYSE:PNW) opened at 85.56 on Tuesday. The stock’s 50 day moving average is $87.07 and its 200 day moving average is $82.46. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 20.78 and a beta of 0.37. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $89.56.

Several institutional investors have recently added to or reduced their stakes in the stock. WealthTrust Arizona LLC increased its position in Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock valued at $104,000 after buying an additional 9 shares during the period. Northwest Investment Counselors LLC acquired a new position in Pinnacle West Capital Corporation during the second quarter valued at approximately $106,000. Tompkins Financial Corp increased its position in Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares during the period. Amica Retiree Medical Trust increased its position in Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares during the period. Finally, Pacer Advisors Inc. increased its position in Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock valued at $175,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 83.73% of the company’s stock.

In other Pinnacle West Capital Corporation news, Director Denis A. Cortese sold 1,776 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $83.85, for a total value of $148,917.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John S. Hatfield sold 2,265 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $84.63, for a total transaction of $191,686.95. Following the completion of the transaction, the vice president now owns 2,145 shares in the company, valued at $181,531.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,875 shares of company stock worth $6,003,922. 0.70% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a yield of 3.06%. Pinnacle West Capital Corporation’s payout ratio is 63.75%.

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.

Earnings History and Estimates for Pinnacle West Capital Corporation (NYSE:PNW)

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