Pinnacle West Capital Co. (NYSE:PNW) – Stock analysts at KeyCorp raised their Q3 2018 EPS estimates for shares of Pinnacle West Capital in a report issued on Thursday, October 18th. KeyCorp analyst P. Ridzon now forecasts that the utilities provider will earn $2.83 per share for the quarter, up from their previous estimate of $2.60. KeyCorp also issued estimates for Pinnacle West Capital’s FY2018 earnings at $4.45 EPS.
Other research analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Pinnacle West Capital from $85.00 to $89.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Barclays began coverage on shares of Pinnacle West Capital in a report on Monday. They set a “hold” rating and a $86.00 price target on the stock. Williams Capital raised their price target on shares of Pinnacle West Capital from $80.00 to $84.00 and gave the company a “hold” rating in a report on Monday, October 15th. Zacks Investment Research downgraded shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Wells Fargo & Co upgraded shares of Pinnacle West Capital from a “market perform” rating to an “outperform” rating in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $84.20.
Pinnacle West Capital stock opened at $84.91 on Monday. The firm has a market cap of $9.53 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 4.27 and a beta of 0.13. The company has a current ratio of 0.50, a quick ratio of 0.36 and a debt-to-equity ratio of 0.81. Pinnacle West Capital has a 1-year low of $73.41 and a 1-year high of $92.48.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Friday, August 3rd. The utilities provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. The business had revenue of $974.12 million for the quarter, compared to the consensus estimate of $939.59 million. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. Pinnacle West Capital’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be paid a $0.7375 dividend. The ex-dividend date is Wednesday, October 31st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.70. This represents a $2.95 dividend on an annualized basis and a yield of 3.47%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 63.91%.
A number of large investors have recently bought and sold shares of the stock. IFM Investors Pty Ltd grew its stake in Pinnacle West Capital by 30.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 3,650 shares of the utilities provider’s stock valued at $289,000 after buying an additional 850 shares during the last quarter. Strs Ohio grew its stake in Pinnacle West Capital by 11.2% in the 3rd quarter. Strs Ohio now owns 92,583 shares of the utilities provider’s stock valued at $7,330,000 after buying an additional 9,323 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in Pinnacle West Capital in the 3rd quarter valued at $1,659,000. Oakbrook Investments LLC grew its stake in Pinnacle West Capital by 36.7% in the 3rd quarter. Oakbrook Investments LLC now owns 6,328 shares of the utilities provider’s stock valued at $501,000 after buying an additional 1,700 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Pinnacle West Capital by 8.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 40,740 shares of the utilities provider’s stock valued at $3,226,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
About Pinnacle West Capital
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.
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