Pinnacle West Capital Co. (NYSE:PNW) CFO James R. Hatfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $84.35, for a total transaction of $843,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. Pinnacle West Capital had a return on equity of 8.97% and a net margin of 12.30%. The business had revenue of $677.73 million for the quarter, compared to analyst estimates of $704.09 million. During the same quarter in the prior year, the company posted $0.04 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 1st will be paid a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, April 27th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 68.23%.
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Several institutional investors have recently made changes to their positions in the stock. WealthTrust Arizona LLC raised its position in shares of Pinnacle West Capital by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock valued at $104,000 after buying an additional 9 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in Pinnacle West Capital by 9.6% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 1,466 shares of the utilities provider’s stock valued at $111,000 after buying an additional 128 shares during the last quarter. Amica Retiree Medical Trust raised its position in Pinnacle West Capital by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares during the last quarter. Tompkins Financial Corp raised its position in Pinnacle West Capital by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares during the last quarter. Finally, First Command Bank purchased a new position in Pinnacle West Capital during the fourth quarter valued at about $121,000. 82.61% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on PNW shares. Williams Capital lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating and set a $79.00 price objective for the company. in a report on Tuesday, March 7th. Zacks Investment Research lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Mizuho increased their price objective on shares of Pinnacle West Capital from $78.00 to $81.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Morgan Stanley lowered their target price on Pinnacle West Capital from $83.00 to $82.00 and set an “underweight” rating for the company in a research report on Monday, May 8th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $86.00 target price on shares of Pinnacle West Capital in a research report on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $79.38.
Pinnacle West Capital Company Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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