Pinnacle West Capital Corporation (NYSE:PNW) to Issue Quarterly Dividend of $0.91

Pinnacle West Capital Corporation (NYSE:PNW) announced a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Monday, November 3rd will be given a dividend of 0.91 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, November 3rd. This is a 1.7% increase from Pinnacle West Capital’s previous quarterly dividend of $0.90.

Pinnacle West Capital has a dividend payout ratio of 70.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle West Capital to earn $4.53 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 79.0%.

Pinnacle West Capital Trading Up 0.3%

PNW stock opened at $92.53 on Thursday. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 9.55 and a beta of 0.46. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25. The business has a fifty day simple moving average of $89.68 and a 200-day simple moving average of $90.74. Pinnacle West Capital has a 52 week low of $81.47 and a 52 week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.58. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $1.76 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Company Profile

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.