Pinnacle West Capital Co. (NYSE:PNW) VP Barbara D. Lockwood sold 1,750 shares of Pinnacle West Capital stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $86.19, for a total transaction of $150,832.50. Following the transaction, the vice president now owns 1,646 shares in the company, valued at approximately $141,868.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of NYSE:PNW opened at $87.61 on Monday. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.81 and a beta of 0.06. Pinnacle West Capital Co. has a 12 month low of $81.63 and a 12 month high of $99.81. The firm’s 50-day moving average is $93.50 and its 200 day moving average is $94.44. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.89.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $2.77 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.23). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. Pinnacle West Capital had a net margin of 14.07% and a return on equity of 9.19%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.80 earnings per share. As a group, equities analysts forecast that Pinnacle West Capital Co. will post 4.7 EPS for the current fiscal year.
A number of research analysts recently weighed in on PNW shares. SunTrust Banks lowered their target price on shares of Pinnacle West Capital from $99.00 to $98.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Co restated a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Bank of America cut shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Friday, November 8th. Zacks Investment Research cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 target price on the stock. in a research note on Friday, October 18th. Finally, UBS Group lifted their target price on shares of Pinnacle West Capital from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $96.36.
Hedge funds have recently modified their holdings of the business. Cibc World Markets Corp grew its stake in Pinnacle West Capital by 1,120.9% in the 2nd quarter. Cibc World Markets Corp now owns 181,311 shares of the utilities provider’s stock worth $17,060,000 after acquiring an additional 166,461 shares in the last quarter. LSV Asset Management grew its stake in Pinnacle West Capital by 2.7% in the 2nd quarter. LSV Asset Management now owns 233,430 shares of the utilities provider’s stock worth $21,963,000 after acquiring an additional 6,200 shares in the last quarter. Westpac Banking Corp grew its stake in Pinnacle West Capital by 37.2% in the 2nd quarter. Westpac Banking Corp now owns 14,169 shares of the utilities provider’s stock worth $1,333,000 after acquiring an additional 3,845 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Pinnacle West Capital by 23.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 7,020 shares of the utilities provider’s stock worth $661,000 after acquiring an additional 1,350 shares in the last quarter. Finally, BP PLC bought a new position in Pinnacle West Capital in the 2nd quarter worth about $1,129,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
About Pinnacle West Capital
Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.
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