Pinnacle West Capital (NYSE:PNW) Sets New 52-Week High – Time to Buy?

Shares of Pinnacle West Capital Corporation (NYSE:PNW) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $97.34 and last traded at $97.1830, with a volume of 39404 shares trading hands. The stock had previously closed at $96.02.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research raised Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Thursday, January 22nd. UBS Group raised their target price on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, Barclays lowered their price target on shares of Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.42.

Pinnacle West Capital Price Performance

The stock has a market cap of $11.67 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 5.70 and a beta of 0.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.49 and a current ratio of 0.67. The firm has a 50-day moving average price of $90.46 and a 200-day moving average price of $90.08.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio (DPR) is 74.74%.

Hedge Funds Weigh In On Pinnacle West Capital

Large investors have recently made changes to their positions in the business. Caldwell Trust Co purchased a new stake in Pinnacle West Capital during the 2nd quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $27,000. Bayforest Capital Ltd purchased a new position in shares of Pinnacle West Capital during the 3rd quarter valued at $29,000. Quent Capital LLC bought a new stake in Pinnacle West Capital during the 3rd quarter valued at approximately $30,000. Finally, Ameritas Advisory Services LLC purchased a new position in Pinnacle West Capital during the second quarter valued at $31,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.