Insider Selling: Pinnacle West Capital Co. (PNW) Director Sells 5,000 Shares of Stock

Pinnacle West Capital Co. (NYSE:PNW) Director Michael L. Gallagher sold 5,000 shares of Pinnacle West Capital stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $95.90, for a total value of $479,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of PNW stock traded up $0.70 on Thursday, hitting $95.89. The stock had a trading volume of 26,159 shares, compared to its average volume of 1,024,181. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.55 and a quick ratio of 0.36. The company has a market capitalization of $10.81 billion, a P/E ratio of 21.13, a PEG ratio of 3.98 and a beta of 0.18. Pinnacle West Capital Co. has a one year low of $73.41 and a one year high of $97.27.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Pinnacle West Capital had a net margin of 14.06% and a return on equity of 9.84%. The company had revenue of $740.53 million during the quarter, compared to analysts’ expectations of $718.60 million. During the same quarter last year, the firm earned $0.03 EPS. Pinnacle West Capital’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Pinnacle West Capital Co. will post 4.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a $0.7375 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $2.95 annualized dividend and a yield of 3.08%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 64.98%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in Pinnacle West Capital in the fourth quarter valued at about $26,000. Zions Bancorporation N.A. purchased a new position in Pinnacle West Capital in the first quarter valued at about $26,000. Bartlett & Co. LLC purchased a new position in Pinnacle West Capital in the fourth quarter valued at about $30,000. Mackey Komara & Dankovich LLC purchased a new position in Pinnacle West Capital in the fourth quarter valued at about $30,000. Finally, Old North State Trust LLC grew its stake in Pinnacle West Capital by 316.7% in the fourth quarter. Old North State Trust LLC now owns 400 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 85.87% of the company’s stock.

PNW has been the subject of several recent research reports. Credit Suisse Group lifted their price objective on Pinnacle West Capital from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 25th. Wells Fargo & Co restated a “market perform” rating and issued a $99.00 price objective (up from $93.00) on shares of Pinnacle West Capital in a report on Sunday, February 24th. Williams Capital restated a “hold” rating on shares of Pinnacle West Capital in a report on Monday, March 18th. Wolfe Research downgraded Pinnacle West Capital from a “market perform” rating to an “underperform” rating and set a $83.00 price objective for the company. in a report on Tuesday, January 22nd. Finally, ValuEngine downgraded Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $90.91.

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About Pinnacle West Capital

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 generating facilities. The company serves approximately 1.2 million customers.

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Insider Buying and Selling by Quarter for Pinnacle West Capital (NYSE:PNW)

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