Pinnacle West Capital (NYSE:PNW) Sets New 52-Week High – What’s Next?

Pinnacle West Capital Co. (NYSE:PNW)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $92.07 and last traded at $92.01, with a volume of 710783 shares. The stock had previously closed at $86.71.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. 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 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.79.

Pinnacle West Capital Stock Up 3.9 %

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 stock’s fifty day simple moving average is $88.24 and its two-hundred day simple moving average is $82.51. The stock has a market capitalization of $10.24 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.895 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a yield of 3.97%. The ex-dividend date is Monday, November 4th. Pinnacle West Capital’s dividend payout ratio is 65.06%.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at approximately $548,862.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its position 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 worth $28,000 after buying an additional 291 shares during the period. Cape Investment Advisory Inc. acquired a new stake in shares of Pinnacle West Capital during the first quarter worth $30,000. Venturi Wealth Management LLC increased its position in shares of Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after buying an additional 238 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital during the second quarter worth $52,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Pinnacle West Capital during the third quarter worth $64,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.