Robert Edgar Smith Sells 4,950 Shares of Pinnacle West Capital Co. (NYSE:PNW) Stock

Pinnacle West Capital Co. (NYSE:PNW) EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the sale, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Pinnacle West Capital Trading Down 0.3 %

NYSE:PNW traded down $0.26 during midday trading on Monday, reaching $85.74. 657,565 shares of the stock traded hands, compared to its average volume of 1,160,054. The stock has a market capitalization of $9.74 billion, a P/E ratio of 18.68, a PEG ratio of 2.26 and a beta of 0.50. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $89.39. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.42 and a current ratio of 0.58. The company has a fifty day moving average of $79.51 and a 200 day moving average of $75.02.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.31 by $0.45. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.73%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, research analysts predict that Pinnacle West Capital Co. will post 4.75 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.11%. Pinnacle West Capital’s dividend payout ratio is currently 76.69%.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds have recently made changes to their positions in the business. MeadowBrook Investment Advisors LLC bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $25,000. BOK Financial Private Wealth Inc. purchased a new stake in Pinnacle West Capital in the fourth quarter worth about $26,000. Blue Trust Inc. boosted its position in Pinnacle West Capital by 377.9% during the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. First United Bank & Trust purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $29,000. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Pinnacle West Capital during the 1st quarter worth approximately $30,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup assumed coverage on Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price target for the company. Morgan Stanley dropped their target price on Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $74.00 to $83.50 in a report on Thursday, June 6th. Finally, Barclays reduced their target price on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average price target of $77.41.

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.