Pinnacle West Capital (NYSE:PNW) Reaches New 52-Week High – Still a Buy?

Pinnacle West Capital Corporation (NYSE:PNW) shares reached a new 52-week high on Tuesday . The stock traded as high as $100.65 and last traded at $100.14, with a volume of 1103708 shares changing hands. The stock had previously closed at $99.60.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group increased their price target on Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. KeyCorp downgraded Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a report on Friday, December 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Finally, Wells Fargo & Company decreased their price target on shares of Pinnacle West Capital from $92.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.33.

Pinnacle West Capital Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. The company’s fifty day moving average price is $92.25 and its 200 day moving average price is $90.49. The company has a market cap of $11.99 billion, a PE ratio of 20.56, a P/E/G ratio of 5.89 and a beta of 0.54.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be issued a $0.91 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. Pinnacle West Capital’s dividend payout ratio is currently 74.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PNW. Caldwell Trust Co bought a new stake in shares of Pinnacle West Capital during the 2nd quarter worth $27,000. CYBER HORNET ETFs LLC purchased a new stake in Pinnacle West Capital during the second quarter worth about $27,000. Bayforest Capital Ltd bought a new stake in Pinnacle West Capital in the third quarter worth about $29,000. Quent Capital LLC bought a new stake in Pinnacle West Capital in the third quarter worth about $30,000. Finally, MUFG Securities EMEA plc purchased a new position in Pinnacle West Capital in the second quarter valued at about $32,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

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.