Pinnacle West Capital (NYSE:PNW – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.600-4.800 for the period, compared to the consensus EPS estimate of 4.690. The company issued revenue guidance of -.
Pinnacle West Capital Price Performance
NYSE PNW opened at $71.97 on Thursday. The company has a market cap of $8.17 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.00 and a beta of 0.49. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $86.03. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The firm’s 50-day simple moving average is $70.83 and its two-hundred day simple moving average is $72.04.
Pinnacle West Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.89%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 79.82%.
Analysts Set New Price Targets
View Our Latest Stock Analysis on Pinnacle West Capital
Institutional Investors Weigh In On Pinnacle West Capital
Several hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc lifted its position in Pinnacle West Capital by 1.9% during the fourth quarter. Legal & General Group Plc now owns 931,290 shares of the utilities provider’s stock valued at $66,904,000 after purchasing an additional 17,388 shares during the last quarter. Perpetual Ltd raised its stake in shares of Pinnacle West Capital by 9.5% during the fourth quarter. Perpetual Ltd now owns 282,317 shares of the utilities provider’s stock worth $20,282,000 after acquiring an additional 24,497 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Pinnacle West Capital by 486.9% during the fourth quarter. Voloridge Investment Management LLC now owns 298,375 shares of the utilities provider’s stock worth $21,435,000 after acquiring an additional 247,538 shares in the last quarter. West Tower Group LLC raised its stake in shares of Pinnacle West Capital by 2,235.0% during the fourth quarter. West Tower Group LLC now owns 934 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 894 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Pinnacle West Capital by 1.6% during the fourth quarter. Nuveen Asset Management LLC now owns 534,136 shares of the utilities provider’s stock worth $38,372,000 after acquiring an additional 8,670 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.
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.
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