Pinnacle West Capital Corporation (NYSE:PNW) Director Michael L. Gallagher sold 2,012 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the sale, the director now directly owns 12,786 shares in the company, valued at approximately $1,142,684.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Pinnacle West Capital Corporation (PNW) traded up $1.45 during mid-day trading on Tuesday, reaching $89.79. 676,800 shares of the company’s stock were exchanged, compared to its average volume of 678,947. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Corporation has a fifty-two week low of $72.15 and a fifty-two week high of $90.92. The stock has a market cap of $10,250.00, a PE ratio of 19.08, a PEG ratio of 6.40 and a beta of 0.38.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.13. Pinnacle West Capital Corporation had a net margin of 14.67% and a return on equity of 10.31%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company earned $2.35 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be paid a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, October 31st. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. Pinnacle West Capital Corporation’s payout ratio is currently 60.04%.

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Institutional investors have recently made changes to their positions in the company. WealthTrust Arizona LLC boosted 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 in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Pinnacle West Capital Corporation in the 2nd quarter valued at $109,000. Parallel Advisors LLC boosted its stake in shares of Pinnacle West Capital Corporation by 3.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 75 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Pinnacle West Capital Corporation by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 174 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new stake in shares of Pinnacle West Capital Corporation in the 3rd quarter valued at $205,000. 85.15% of the stock is owned by institutional investors.

A number of analysts recently weighed in on PNW shares. Morgan Stanley upped their target price on shares of Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Credit Suisse Group AG started coverage on shares of Pinnacle West Capital Corporation in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price on the stock. Zacks Investment Research raised shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, September 11th. BidaskClub raised shares of Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Pinnacle West Capital Corporation in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.40.

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.

Insider Buying and Selling by Quarter for Pinnacle West Capital Corporation (NYSE:PNW)

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