Pinnacle West Capital (NYSE:PNW – Get Free Report) released its quarterly earnings results on Thursday. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17, Briefing.com reports. The business had revenue of $951.71 million during the quarter, compared to the consensus estimate of $981.82 million. Pinnacle West Capital had a return on equity of 8.30% and a net margin of 11.09%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. Pinnacle West Capital updated its FY24 guidance to $4.60-4.80 EPS.
Pinnacle West Capital Trading Up 1.0 %
Shares of Pinnacle West Capital stock traded up $0.75 on Friday, hitting $75.79. The stock had a trading volume of 1,042,561 shares, compared to its average volume of 966,016. The stock has a 50 day moving average of $72.41 and a 200 day moving average of $72.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $86.03. The firm has a market capitalization of $8.61 billion, a P/E ratio of 16.51, a PEG ratio of 2.10 and a beta of 0.48.
Pinnacle West Capital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 annualized dividend and a yield of 4.64%. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.
Analyst Upgrades and Downgrades
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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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