Pinnacle West Capital Corporation (PNW) To Go Ex-Dividend on November 3rd

Pinnacle West Capital Corporation (NYSE:PNW) declared a quarterly dividend on Wednesday, October 22nd. Shareholders of record on Monday, November 3rd will be paid a dividend of 0.91 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 3rd. This is a 1.7% increase from Pinnacle West Capital’s previous quarterly dividend of $0.90.

Pinnacle West Capital has a payout ratio of 70.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pinnacle West Capital to earn $4.53 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 79.0%.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $92.64 on Friday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 9.59 and a beta of 0.46. Pinnacle West Capital has a 12 month low of $81.47 and a 12 month high of $96.50. The stock’s 50 day moving average price is $89.69 and its 200 day moving average price is $90.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share for the quarter, hitting the consensus estimate of $1.58. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company posted $1.76 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Insider Transactions at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,496 shares of Pinnacle West Capital stock in a transaction on Monday, August 11th. The shares were sold at an average price of $92.37, for a total transaction of $600,035.52. Following the transaction, the executive vice president directly owned 56 shares of the company’s stock, valued at $5,172.72. This trade represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently modified their holdings of PNW. Clearstead Trust LLC acquired a new position in Pinnacle West Capital in the 1st quarter valued at about $25,000. Costello Asset Management INC acquired a new stake in Pinnacle West Capital in the first quarter worth $26,000. Caldwell Trust Co acquired a new position in shares of Pinnacle West Capital during the second quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new position in Pinnacle West Capital during the second quarter worth about $27,000. Finally, Ameritas Advisory Services LLC bought a new stake in Pinnacle West Capital in the second quarter worth about $31,000. 91.51% of the stock is owned by institutional investors.

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.