Pinnacle West Capital (NYSE:PNW) Updates FY25 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.40-4.60 for the period, compared to the consensus EPS estimate of $4.74. Pinnacle West Capital also updated its FY 2024 guidance to 5.000-5.200 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PNW shares. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on Pinnacle West Capital in a report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $80.79.

Pinnacle West Capital Trading Up 5.0 %

Shares of Pinnacle West Capital stock traded up $4.36 during trading hours on Wednesday, hitting $91.07. The company’s stock had a trading volume of 103,735 shares, compared to its average volume of 1,124,507. 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 50 day moving average of $88.24 and a 200 day moving average of $82.51. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $91.57. The company has a market capitalization of $10.35 billion, a PE 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.93%. 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 65.06%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

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.