ValuEngine upgraded shares of Pinnacle West Capital Corporation (NYSE:PNW) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other equities research analysts also recently weighed in on PNW. Zacks Investment Research upgraded Pinnacle West Capital Corporation from a sell rating to a hold rating in a report on Tuesday, July 18th. BidaskClub raised Pinnacle West Capital Corporation from a sell rating to a hold rating in a research note on Monday, July 24th. Royal Bank Of Canada reissued a hold rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. BMO Capital Markets reissued a hold rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Friday, August 4th. Finally, Morgan Stanley raised their price objective on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an underweight rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $86.40.

Shares of Pinnacle West Capital Corporation (PNW) opened at $90.05 on Tuesday. The firm has a market capitalization of $10,140.00, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 6.64 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. Pinnacle West Capital Corporation has a 1-year low of $72.61 and a 1-year high of $92.48.

Pinnacle West Capital Corporation (NYSE:PNW) last issued its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital Corporation had a return on equity of 10.31% and a net margin of 14.67%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.35 earnings per share. equities analysts anticipate that Pinnacle West Capital Corporation will post 4.27 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a dividend of $0.695 per share. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.78 annualized dividend and a dividend yield of 3.09%. Pinnacle West Capital Corporation’s payout ratio is presently 60.04%.

In related news, EVP David P. Falck sold 4,600 shares of Pinnacle West Capital Corporation stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $89.98, for a total transaction of $413,908.00. Following the transaction, the executive vice president now owns 42,840 shares of the company’s stock, valued at $3,854,743.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Gallagher sold 2,012 shares of Pinnacle West Capital Corporation stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $89.37, for a total value of $179,812.44. Following the transaction, the director now directly owns 12,786 shares in the company, valued at approximately $1,142,684.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,584 shares of company stock worth $5,518,300. 0.70% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. WealthTrust Arizona LLC boosted its position in shares of Pinnacle West Capital Corporation by 0.7% during the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after buying an additional 9 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Pinnacle West Capital Corporation during the second quarter valued at approximately $109,000. Parallel Advisors LLC boosted its position in shares of Pinnacle West Capital Corporation by 3.6% during the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after buying an additional 75 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Pinnacle West Capital Corporation by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after buying an additional 174 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of Pinnacle West Capital Corporation during the third quarter valued at approximately $205,000. 85.15% of the stock is currently owned by institutional investors.

Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

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Analyst Recommendations for Pinnacle West Capital Corporation (NYSE:PNW)

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