Pinnacle West Reaches New 52-Week High (PNW)

NEW YORK ( TheStreet) -- Pinnacle West Capital Corporation (NYSE: PNW) hit a new 52-week high Wednesday as it is currently trading at $45.69, above its previous 52-week high of $45.64 with 70,262 shares traded as of 10:11 a.m. ET. Average volume has been one million shares over the past 30 days.

Pinnacle West has a market cap of $4.9 billion and is part of the utilities sector and utilities industry. Shares are up 7.3% year to date as of the close of trading on Tuesday.

Pinnacle West Capital Corporation, through its subsidiaries, provides retail and wholesale electric services primarily in the State of Arizona. The company involves in the generation, transmission, and distribution of electricity through coal, nuclear, gas and oil, and solar resources. The company has a P/E ratio of 15.9, below the average utilities industry P/E ratio of 16.1 and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Pinnacle West as a buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, attractive valuation levels, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Pinnacle West Ratings Report.

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