Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include approximately 5,814 pole miles of overhead lines and approximately 74 miles of underground lines; and distribution facilities comprise approximately 11,258 miles of overhead lines and approximately 22,821 miles of underground primary cable, as well as owns and maintains 475 transmission and distribution substations. The company also owns or leases approximately 6,323 megawatts of regulated generation capacity. It serves approximately 1.3 million customers. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on PNW shares. KeyCorp lifted their price target on shares of Pinnacle West Capital from $62.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, April 20th. Credit Suisse Group lifted their price target on shares of Pinnacle West Capital to $69.00 in a research report on Tuesday, August 9th. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $70.00 to $71.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 26th. UBS Group reduced their price target on shares of Pinnacle West Capital from $74.00 to $67.00 and set a "sell" rating for the company in a research report on Thursday, June 30th. Finally, Barclays reduced their price target on shares of Pinnacle West Capital from $78.00 to $68.00 and set an "underweight" rating for the company in a research report on Monday, July 18th. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $71.54.
Pinnacle West Capital Price Performance
PNW opened at $77.32 on Friday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 15.98 and a beta of 0.32. Pinnacle West Capital has a 1 year low of $62.78 and a 1 year high of $81.25. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.69. The firm's fifty day moving average price is $72.20 and its two-hundred day moving average price is $73.40.
Pinnacle West Capital (NYSE:PNW - Get Rating) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.04. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $974.60 million. Pinnacle West Capital had a return on equity of 9.04% and a net margin of 13.88%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.91 EPS. As a group, analysts anticipate that Pinnacle West Capital will post 3.97 earnings per share for the current fiscal year.
Pinnacle West Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 1st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, July 29th. Pinnacle West Capital's payout ratio is 70.25%.
Insider Transactions at Pinnacle West Capital
In other news, SVP Barbara D. Lockwood sold 3,489 shares of Pinnacle West Capital stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.25, for a total transaction of $259,058.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.