Pinnacle West Capital Corporation (NYSE:PNW) has been given an average rating of “Hold” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $81.63.

A number of research firms have weighed in on PNW. Morgan Stanley boosted their price objective on Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the stock an “underweight” rating in a research note on Friday. KeyCorp reissued a “hold” rating on shares of Pinnacle West Capital Corporation in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Tuesday, August 29th. BidaskClub raised Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reissued a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th.

Pinnacle West Capital Corporation (PNW) traded up 0.52% during mid-day trading on Friday, reaching $90.01. The company had a trading volume of 491,736 shares. Pinnacle West Capital Corporation has a 52 week low of $70.86 and a 52 week high of $90.87. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 19.88 and a beta of 0.38. The stock has a 50 day moving average of $88.69 and a 200 day moving average of $85.92.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that Pinnacle West Capital Corporation will post $4.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were paid a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is presently 57.96%.

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In other news, Chairman Donald E. Brandt sold 35,013 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total value of $3,136,114.41. Following the transaction, the chairman now owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total value of $413,908.00. Following the completion of the transaction, the executive vice president now directly owns 42,840 shares in the company, valued at approximately $3,854,743.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,419 shares of company stock worth $3,713,068. Corporate insiders own 0.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in PNW. Northwest Investment Counselors LLC acquired a new position in shares of Pinnacle West Capital Corporation in the 2nd quarter valued at $106,000. WealthTrust Arizona LLC lifted its stake in shares of Pinnacle West Capital Corporation by 0.7% in the 2nd quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 9 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Pinnacle West Capital Corporation in the 2nd quarter valued at $109,000. Pacer Advisors Inc. lifted its stake in shares of Pinnacle West Capital Corporation by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 66 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Pinnacle West Capital Corporation by 8.9% in the 1st quarter. Parallel Advisors LLC now owns 2,069 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 169 shares during the last quarter. 84.20% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Pinnacle West Capital Corporation (NYSE:PNW)

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