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.
Pinnacle West Capital Trading Up 0.2 %
NYSE:PNW opened at $76.45 on Thursday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 15.80 and a beta of 0.32. Pinnacle West Capital has a 52 week low of $62.78 and a 52 week high of $81.25. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 1.20. The company's 50 day moving average price is $72.24 and its 200-day moving average price is $73.29.
Pinnacle West Capital (NYSE:PNW - Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.04. Pinnacle West Capital had a return on equity of 9.04% and a net margin of 13.88%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $974.60 million. During the same period in the prior year, the company posted $1.91 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle West Capital will post 3.97 earnings per share for the current fiscal year.
Pinnacle West Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 1st will be paid a $0.85 dividend. The ex-dividend date is Friday, July 29th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.45%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 70.25%.
Analyst Ratings Changes
A number of analysts recently commented on the company. UBS Group dropped their price target on Pinnacle West Capital from $74.00 to $67.00 and set a "sell" rating for the company in a research note on Thursday, June 30th. Credit Suisse Group lifted their target price on shares of Pinnacle West Capital to $69.00 in a research note on Tuesday. Mizuho increased their price target on shares of Pinnacle West Capital from $76.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays cut their price objective on Pinnacle West Capital from $78.00 to $68.00 and set an "underweight" rating on the stock in a research report on Monday, July 18th. Finally, Morgan Stanley increased their target price on Pinnacle West Capital from $70.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 26th. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $71.54.
Insider Buying and Selling
In other news, SVP Barbara D. Lockwood sold 3,489 shares of the company's stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $74.25, for a total transaction of $259,058.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.