Susan T. Flanagan Acquires 500 Shares of Pinnacle West Capital Co. (NYSE:PNW) Stock

Pinnacle West Capital Co. (NYSE:PNW) Director Susan T. Flanagan acquired 500 shares of Pinnacle West Capital stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $86.54 per share, for a total transaction of $43,270.00. Following the completion of the transaction, the director now owns 750 shares in the company, valued at approximately $64,905. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $88.20 on Friday. The firm has a market cap of $10.02 billion, a PE ratio of 19.22, a PEG ratio of 2.20 and a beta of 0.52. The stock has a 50 day moving average of $88.23 and a 200 day moving average of $81.67. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. Pinnacle West Capital Co. has a 12 month low of $65.20 and a 12 month high of $91.57.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. On average, research analysts expect that Pinnacle West Capital Co. will post 4.77 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.06%. Pinnacle West Capital’s payout ratio is currently 76.69%.

Institutional Trading of Pinnacle West Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after buying an additional 291 shares during the last quarter. Cape Investment Advisory Inc. purchased a new stake in Pinnacle West Capital in the first quarter worth $30,000. Ashton Thomas Private Wealth LLC bought a new position in Pinnacle West Capital in the 2nd quarter worth about $52,000. First Horizon Advisors Inc. grew its holdings in Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 137 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at about $82,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PNW. Morgan Stanley lifted their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays reduced their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. Wells Fargo & Company increased their target price on Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.79.

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.