Pinnacle West Capital Corporation (PNW) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Pinnacle West Capital Corporation (NYSE:PNW) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other equities analysts also recently commented on PNW. Zacks Investment Research upgraded Pinnacle West Capital Corporation from a hold rating to a buy rating and set a $100.00 price objective on the stock in a research report on Monday, September 11th. BidaskClub upgraded Pinnacle West Capital Corporation from a hold rating to a buy rating in a research report on Tuesday, August 22nd. BMO Capital Markets reiterated a hold rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Friday, August 4th. Royal Bank Of Canada reiterated a hold rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Monday, July 24th. Finally, KeyCorp reiterated a hold rating on shares of Pinnacle West Capital Corporation in a research report on Friday, September 1st. One 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. Pinnacle West Capital Corporation has a consensus rating of Hold and a consensus target price of $86.40.

Pinnacle West Capital Corporation (NYSE PNW) remained flat at $$90.78 during midday trading on Tuesday. 567,200 shares of the company traded hands, compared to its average volume of 680,666. The firm has a market cap of $10,142.83, a PE ratio of 19.61, a P/E/G ratio of 6.57 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 quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85.

Pinnacle West Capital Corporation (NYSE:PNW) last released its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share 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 the consensus estimate of $1.21 billion. Pinnacle West Capital Corporation had a return on equity of 10.31% and a net margin of 14.67%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 earnings per share. research analysts forecast that Pinnacle West Capital Corporation will post 4.27 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.695 per share. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.78 annualized dividend and a yield of 3.06%. Pinnacle West Capital Corporation’s dividend payout ratio (DPR) is 60.04%.

In other Pinnacle West Capital Corporation news, Chairman Donald E. Brandt sold 35,013 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the completion of the sale, the chairman now owns 118,574 shares of the company’s stock, valued at $10,620,673.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald E. Brandt sold 18,153 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.54, for a total value of $1,625,419.62. Following the sale, the chief executive officer now directly owns 118,574 shares of the company’s stock, valued at approximately $10,617,115.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,584 shares of company stock valued at $5,518,300. 0.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PNW. WealthTrust Arizona LLC grew its stake 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 buying an additional 9 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Pinnacle West Capital Corporation in the second quarter valued at $109,000. Parallel Advisors LLC grew its stake 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 buying an additional 75 shares in the last quarter. Pacer Advisors Inc. grew its stake 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 buying an additional 174 shares in 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 $205,000. 85.15% of the stock is owned by institutional investors and hedge funds.

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.

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

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