Pinnacle West Capital Co. to Post Q3 2021 Earnings of $2.80 Per Share, KeyCorp Forecasts (NYSE:PNW)

Pinnacle West Capital Co. (NYSE:PNW) – Investment analysts at KeyCorp issued their Q3 2021 earnings estimates for shares of Pinnacle West Capital in a report issued on Tuesday, January 12th. KeyCorp analyst S. Karp forecasts that the utilities provider will earn $2.80 per share for the quarter.

PNW has been the subject of a number of other research reports. Bank of America downgraded shares of Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $78.00 target price for the company. in a research report on Monday, October 12th. BidaskClub downgraded Pinnacle West Capital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 23rd. TheStreet upgraded shares of Pinnacle West Capital from a “c+” rating to a “b-” rating in a research note on Monday, October 12th. Morgan Stanley cut their price target on Pinnacle West Capital from $86.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, December 15th. Finally, Barclays raised their price objective on shares of Pinnacle West Capital from $89.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, November 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.11.

PNW stock opened at $77.93 on Thursday. Pinnacle West Capital has a one year low of $60.05 and a one year high of $105.51. The company has a current ratio of 0.77, a quick ratio of 0.54 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $8.77 billion, a PE ratio of 14.65, a P/E/G ratio of 4.78 and a beta of 0.31. The firm has a 50-day moving average of $79.96 and a two-hundred day moving average of $79.26.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $3.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.22. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.22 billion. Pinnacle West Capital had a return on equity of 10.69% and a net margin of 17.37%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.77 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Monday, February 1st will be paid a $0.83 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 29th. This represents a $3.32 annualized dividend and a yield of 4.26%. Pinnacle West Capital’s payout ratio is 69.60%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential PLC raised its stake in Pinnacle West Capital by 11,376.8% during the third quarter. Prudential PLC now owns 1,016,160 shares of the utilities provider’s stock worth $75,754,000 after acquiring an additional 1,007,306 shares in the last quarter. FMR LLC raised its holdings in Pinnacle West Capital by 117.4% in the second quarter. FMR LLC now owns 1,014,861 shares of the utilities provider’s stock valued at $74,378,000 after acquiring an additional 548,149 shares in the last quarter. AJO LP lifted its position in shares of Pinnacle West Capital by 60.6% during the 3rd quarter. AJO LP now owns 944,447 shares of the utilities provider’s stock worth $70,407,000 after purchasing an additional 356,488 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Pinnacle West Capital by 10.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,721,342 shares of the utilities provider’s stock valued at $202,876,000 after buying an additional 261,536 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Pinnacle West Capital by 23.1% during the 3rd quarter. First Trust Advisors LP now owns 1,044,620 shares of the utilities provider’s stock worth $77,876,000 after acquiring an additional 195,734 shares in the last quarter. Institutional investors own 83.69% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities consist of approximately 6,192 pole miles of overhead lines and approximately 49 miles of underground lines; and distribution facilities comprise approximately 11,191 miles of overhead lines and approximately 22,092 miles of underground primary cable.

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Earnings History and Estimates for Pinnacle West Capital (NYSE:PNW)

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