Donald E. Brandt Sells 18,153 Shares of Pinnacle West Capital Corporation (PNW) Stock

Pinnacle West Capital Corporation (NYSE:PNW) CEO Donald E. Brandt sold 18,153 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $89.54, for a total transaction of $1,625,419.62. Following the transaction, the chief executive officer now directly owns 118,574 shares of the company’s stock, valued at $10,617,115.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Pinnacle West Capital Corporation (PNW) opened at $90.78 on Thursday. The company has a market cap of $10,246.74, a P/E ratio of 19.81, a PEG ratio of 6.64 and a beta of 0.38. Pinnacle West Capital Corporation has a 1 year low of $72.61 and a 1 year high of $92.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.90 and a quick ratio of 0.68.

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, beating the consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital Corporation had a net margin of 14.67% and a return on equity of 10.31%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 earnings per share. sell-side analysts predict that Pinnacle West Capital Corporation will post 4.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be given a $0.695 dividend. The ex-dividend date is Tuesday, October 31st. This is a positive change from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. This represents a $2.78 annualized dividend and a dividend yield of 3.06%. Pinnacle West Capital Corporation’s dividend payout ratio is currently 60.04%.

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Hedge funds have recently added to or reduced their stakes in the company. WealthTrust Arizona LLC grew its position in shares of Pinnacle West Capital Corporation by 0.7% in the second 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 stake in shares of Pinnacle West Capital Corporation in the second quarter valued at approximately $109,000. Parallel Advisors LLC grew its position in shares of Pinnacle West Capital Corporation by 3.6% in the second 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 during the last quarter. Pacer Advisors Inc. grew its position in shares of Pinnacle West Capital Corporation by 8.3% in the second 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 during the last quarter. Finally, Stock Yards Bank & Trust Co. acquired a new stake in shares of Pinnacle West Capital Corporation in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 85.15% of the company’s stock.

Several research analysts have weighed in on PNW shares. ValuEngine upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. SunTrust Banks, Inc. restated a “hold” rating and set a $88.00 target price on shares of Pinnacle West Capital Corporation in a research report on Monday, October 30th. Zacks Investment Research upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Thursday, October 26th. Bank of America Corporation started coverage on shares of Pinnacle West Capital Corporation in a research report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Pinnacle West Capital Corporation in a research report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $86.40.

Pinnacle West Capital Corporation Company Profile

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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