Pinnacle West Capital (PNW) Set to Announce Quarterly Earnings on Wednesday

Pinnacle West Capital (NYSE:PNW) will release its earnings data before the market opens on Wednesday, November 6th. Analysts expect Pinnacle West Capital to post earnings of $3.14 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Pinnacle West Capital Trading Up 0.9 %

Shares of PNW opened at $85.71 on Tuesday. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $91.57. The stock’s 50-day moving average is $88.24 and its two-hundred day moving average is $82.42. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48. The stock has a market cap of $9.74 billion, a PE ratio of 15.84, a P/E/G ratio of 2.18 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.18%. 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’s dividend payout ratio is currently 66.17%.

Wall Street Analyst Weigh In

PNW has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective on the stock. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted 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 given a buy rating to the company’s stock. According to MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $80.79.

Insider Buying and Selling

In other news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $85.80, for a total value of $424,710.00. Following the transaction, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.

About Pinnacle West Capital

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.