Pinnacle West Capital Co. (PNW) To Go Ex-Dividend on November 4th

Pinnacle West Capital Co. (NYSE:PNW) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.895 per share by the utilities provider on Monday, December 2nd. This represents a $3.58 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88.

Pinnacle West Capital has raised its dividend by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Pinnacle West Capital has a dividend payout ratio of 72.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pinnacle West Capital to earn $4.87 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 72.3%.

Pinnacle West Capital Trading Up 0.3 %

NYSE:PNW opened at $89.61 on Friday. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The business has a fifty day moving average of $88.19 and a 200-day moving average of $81.58. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $91.57.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Pinnacle West Capital will post 4.77 earnings per share for the current year.

Insider Buying and Selling

In other Pinnacle West Capital news, Director Susan T. Flanagan bought 500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $86.54 per share, for a total transaction of $43,270.00. Following the acquisition, the director now directly owns 750 shares of the company’s stock, valued at approximately $64,905. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Susan T. Flanagan bought 500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $86.54 per share, with a total value of $43,270.00. Following the purchase, the director now directly owns 750 shares of the company’s stock, valued at approximately $64,905. This represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Edgar Smith sold 4,950 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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