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.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Credit Suisse Group raised their target price on Pinnacle West Capital to $69.00 in a report on Tuesday, August 9th. Barclays dropped their target price on Pinnacle West Capital from $78.00 to $68.00 and set an "underweight" rating on the stock in a report on Monday, July 18th. UBS Group dropped their price objective on Pinnacle West Capital from $74.00 to $67.00 and set a "sell" rating on the stock in a report on Thursday, June 30th. Mizuho lifted their price objective on Pinnacle West Capital from $76.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, August 9th. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $70.00 to $71.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 26th. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and an average price target of $71.54.
Pinnacle West Capital Price Performance
Shares of NYSE:PNW opened at $77.87 on Friday. Pinnacle West Capital has a twelve month low of $62.78 and a twelve month high of $81.25. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 16.09 and a beta of 0.32. The business has a 50 day simple moving average of $72.37 and a 200-day simple moving average of $73.59.
Pinnacle West Capital (NYSE:PNW - Get Rating) last released its quarterly earnings data 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $974.60 million. During the same quarter in the previous year, the firm posted $1.91 EPS. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Pinnacle West Capital will post 3.98 earnings per share for the current year.
Pinnacle West Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 1st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $3.40 dividend on an annualized basis and a yield of 4.37%. Pinnacle West Capital's dividend payout ratio is currently 70.25%.