Pinnacle West Capital Corp. (NYSE:PNW) – Research analysts at KeyCorp issued their Q3 2016 earnings estimates for Pinnacle West Capital Corp. in a research note issued to investors on Monday. KeyCorp analyst P. Ridzon forecasts that the firm will post earnings per share of $2.42 for the quarter.

Pinnacle West Capital Corp. (NYSE:PNW) last announced its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by $0.06. Pinnacle West Capital Corp. had a return on equity of 8.94% and a net margin of 12.02%. The business had revenue of $915.40 million for the quarter, compared to analysts’ expectations of $915.40 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year.

Earnings History and Estimates for Pinnacle West Capital Corp. (NYSE:PNW)

Several other equities analysts have also recently weighed in on PNW. Zacks Investment Research upgraded shares of Pinnacle West Capital Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. SunTrust Banks Inc. lowered their price objective on shares of Pinnacle West Capital Corp. from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Mizuho lifted their price objective on shares of Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. BMO Capital Markets reiterated a “hold” rating on shares of Pinnacle West Capital Corp. in a research report on Monday, July 18th. Finally, Williams Capital upgraded shares of Pinnacle West Capital Corp. from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, October 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $71.40.

Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded down 0.24% during mid-day trading on Wednesday, hitting $74.94. The stock had a trading volume of 196,034 shares. The firm’s 50 day moving average price is $75.55 and its 200-day moving average price is $75.99. The company has a market cap of $8.33 billion, a PE ratio of 19.79 and a beta of 0.33. Pinnacle West Capital Corp. has a one year low of $60.70 and a one year high of $82.78.

In related news, VP John S. Hatfield sold 4,523 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $75.27, for a total value of $340,446.21. Following the completion of the sale, the vice president now directly owns 2,265 shares in the company, valued at $170,486.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNW. Wellington Management Group LLP raised its position in Pinnacle West Capital Corp. by 23.6% in the first quarter. Wellington Management Group LLP now owns 1,015,701 shares of the company’s stock worth $76,249,000 after buying an additional 193,718 shares in the last quarter. Geode Capital Management LLC raised its position in Pinnacle West Capital Corp. by 1.4% in the first quarter. Geode Capital Management LLC now owns 940,662 shares of the company’s stock worth $70,480,000 after buying an additional 13,165 shares in the last quarter. IBM Retirement Fund raised its position in Pinnacle West Capital Corp. by 19.1% in the second quarter. IBM Retirement Fund now owns 13,130 shares of the company’s stock worth $1,111,000 after buying an additional 2,103 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Pinnacle West Capital Corp. by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 95,142 shares of the company’s stock worth $7,712,000 after buying an additional 1,279 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Pinnacle West Capital Corp. during the second quarter worth $15,002,000. 82.66% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle West Capital Corp.

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

5 Day Chart for NYSE:PNW

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