Pinnacle West Capital Co. (NYSE:PNW) Director Buys $43,270.00 in Stock

Pinnacle West Capital Co. (NYSE:PNW) Director Susan T. Flanagan acquired 500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $86.54 per share, with a total value of $43,270.00. Following the completion of the transaction, the director now owns 750 shares in the company, valued at approximately $64,905. The trade was a 200.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Pinnacle West Capital Trading Up 0.3 %

NYSE PNW opened at $89.61 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a market cap of $10.18 billion, a PE ratio of 19.52, a P/E/G ratio of 2.20 and a beta of 0.52. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $91.57. The firm’s fifty day moving average is $88.19 and its two-hundred day moving average is $81.58.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business posted $0.94 earnings per share. Pinnacle West Capital’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts expect that Pinnacle West Capital Co. will post 4.77 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, November 4th. Pinnacle West Capital’s payout ratio is 76.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PNW shares. Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays reduced their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of Pinnacle West Capital during the first quarter worth about $898,000. Quantbot Technologies LP purchased a new stake in Pinnacle West Capital during the first quarter worth about $1,102,000. Natixis purchased a new stake in Pinnacle West Capital during the first quarter worth about $4,064,000. Allspring Global Investments Holdings LLC boosted its holdings in Pinnacle West Capital by 148.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,944 shares of the utilities provider’s stock worth $1,341,000 after buying an additional 10,732 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Pinnacle West Capital by 15.6% during the first quarter. Sei Investments Co. now owns 228,555 shares of the utilities provider’s stock worth $17,080,000 after buying an additional 30,924 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.