Pinnacle West Capital Co. (NYSE:PNW)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $96.05 and traded as high as $96.75. Pinnacle West Capital shares last traded at $95.46, with a volume of 10,600 shares trading hands.

Several analysts have recently weighed in on PNW shares. Bank of America reiterated a “hold” rating and set a $212.00 target price on shares of Goldman Sachs Group in a research report on Monday, April 15th. Credit Suisse Group set a $199.00 target price on shares of NextEra Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Williams Capital reiterated a “hold” rating on shares of Southwest Gas in a research report on Monday, March 18th. Finally, ValuEngine lowered shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $93.36.

The stock has a market capitalization of $10.63 billion, a PE ratio of 20.57, a P/E/G ratio of 3.97 and a beta of 0.18. The business’s fifty day moving average price is $96.00. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 0.92.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Pinnacle West Capital had a net margin of 14.06% and a return on equity of 9.84%. The firm had revenue of $740.53 million for the quarter, compared to the consensus estimate of $718.60 million. During the same period in the prior year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts predict that Pinnacle West Capital Co. will post 4.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be paid a $0.738 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.15%. Pinnacle West Capital’s payout ratio is currently 64.98%.

In other Pinnacle West Capital news, Director Michael L. Gallagher sold 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.90, for a total value of $479,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Denis A. Cortese sold 3,014 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $94.12, for a total transaction of $283,677.68. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Securian Asset Management Inc raised its stake in shares of Pinnacle West Capital by 1.0% during the first quarter. Securian Asset Management Inc now owns 11,655 shares of the utilities provider’s stock worth $1,114,000 after buying an additional 116 shares during the last quarter. First Manhattan Co. raised its stake in shares of Pinnacle West Capital by 0.5% during the first quarter. First Manhattan Co. now owns 27,521 shares of the utilities provider’s stock worth $2,630,000 after buying an additional 131 shares during the last quarter. Rare Infrastructure Ltd raised its stake in shares of Pinnacle West Capital by 9.1% during the fourth quarter. Rare Infrastructure Ltd now owns 1,691 shares of the utilities provider’s stock worth $145,000 after buying an additional 141 shares during the last quarter. ETF Managers Group LLC raised its stake in shares of Pinnacle West Capital by 8.4% during the first quarter. ETF Managers Group LLC now owns 1,827 shares of the utilities provider’s stock worth $175,000 after buying an additional 142 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Pinnacle West Capital by 0.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 17,042 shares of the utilities provider’s stock worth $1,629,000 after buying an additional 155 shares during the last quarter. 85.15% of the stock is owned by institutional investors.

About Pinnacle West Capital (NYSE:PNW)

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 generating facilities. The company serves approximately 1.2 million customers.

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