Pinnacle West Capital Co. (NYSE:PNW) – Investment analysts at KeyCorp decreased their FY2018 earnings per share estimates for Pinnacle West Capital in a research report issued on Wednesday, April 18th. KeyCorp analyst P. Ridzon now expects that the utilities provider will post earnings per share of $4.40 for the year, down from their prior estimate of $4.45. KeyCorp also issued estimates for Pinnacle West Capital’s FY2019 earnings at $4.70 EPS.
Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.09. The business had revenue of $759.65 million during the quarter, compared to analyst estimates of $773.12 million. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS.
Shares of Pinnacle West Capital stock opened at $78.02 on Thursday. Pinnacle West Capital has a 52-week low of $73.81 and a 52-week high of $92.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61. The stock has a market cap of $8,859.02, a PE ratio of 17.94, a PEG ratio of 6.00 and a beta of 0.27.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 1st will be issued a $0.695 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $2.78 annualized dividend and a yield of 3.56%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 63.91%.
In other Pinnacle West Capital news, Director Kathryn L. Munro sold 2,666 shares of Pinnacle West Capital stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $75.36, for a total value of $200,909.76. Following the transaction, the director now directly owns 15,630 shares of the company’s stock, valued at approximately $1,177,876.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Donald E. Brandt sold 39,083 shares of Pinnacle West Capital stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $77.23, for a total value of $3,018,380.09. Following the completion of the transaction, the chief executive officer now directly owns 88,741 shares in the company, valued at $6,853,467.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,894 shares of company stock worth $3,382,610. Company insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PNW. Renaissance Technologies LLC increased its position in Pinnacle West Capital by 803.8% in the 4th quarter. Renaissance Technologies LLC now owns 776,400 shares of the utilities provider’s stock worth $66,134,000 after buying an additional 690,500 shares during the period. Boston Partners increased its position in Pinnacle West Capital by 24.3% in the 4th quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after buying an additional 687,119 shares during the period. TIAA CREF Investment Management LLC increased its position in Pinnacle West Capital by 151.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 824,565 shares of the utilities provider’s stock worth $70,236,000 after buying an additional 496,328 shares during the period. Two Sigma Advisers LP increased its position in Pinnacle West Capital by 397.6% in the 4th quarter. Two Sigma Advisers LP now owns 509,783 shares of the utilities provider’s stock worth $43,423,000 after buying an additional 407,325 shares during the period. Finally, Zimmer Partners LP bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $26,619,000. 82.65% of the stock is currently owned by institutional investors.
Pinnacle West Capital Company Profile
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 resources. The company serves approximately 1.2 million homes and businesses.
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