Pinnacle West Capital (NYSE:PNW – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.600-4.800 for the period, compared to the consensus earnings per share estimate of 4.690. The company issued revenue guidance of -.
Pinnacle West Capital Price Performance
PNW stock opened at $72.95 on Friday. The company has a fifty day moving average price of $71.06 and a 200-day moving average price of $72.05. The company has a market capitalization of $8.28 billion, a P/E ratio of 16.54, a PEG ratio of 2.00 and a beta of 0.49. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $86.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67.
Pinnacle West Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.83%. Pinnacle West Capital’s payout ratio is currently 79.82%.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on Pinnacle West Capital
Institutional Trading of Pinnacle West Capital
Several hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina raised its position in Pinnacle West Capital by 0.3% in the second quarter. Treasurer of the State of North Carolina now owns 49,483 shares of the utilities provider’s stock worth $4,031,000 after acquiring an additional 130 shares during the period. Eaton Vance Management raised its position in Pinnacle West Capital by 1.9% in the first quarter. Eaton Vance Management now owns 7,921 shares of the utilities provider’s stock worth $619,000 after acquiring an additional 146 shares during the period. Verity Asset Management Inc. raised its position in Pinnacle West Capital by 5.3% in the second quarter. Verity Asset Management Inc. now owns 3,122 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 158 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its position in Pinnacle West Capital by 4.9% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,051 shares of the utilities provider’s stock worth $261,000 after acquiring an additional 190 shares during the period. Finally, Bedel Financial Consulting Inc. raised its position in Pinnacle West Capital by 5.4% in the second quarter. Bedel Financial Consulting Inc. now owns 3,690 shares of the utilities provider’s stock worth $301,000 after acquiring an additional 190 shares during the period. Institutional investors own 91.51% of the company’s stock.
Pinnacle West Capital Company Profile
Pinnacle West Capital Corporation, through its subsidiary, 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 overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.
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