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NEW YORK ( TheStreet) -- Pinnacle West Capital Corporation (NYSE: PNW) hit a new 52-week high Thursday as it is currently trading at $48.94, above its previous 52-week high of $48.87 with 588,521 shares traded as of 12:20 p.m. ET. Average volume has been 663,900 shares over the past 30 days. Pinnacle West has a market cap of $5.24 billion and is part of the utilities sector and utilities industry. Shares are down 0.2% year to date as of the close of trading on Wednesday. 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 has a P/E ratio of 15.5, below the average utilities industry P/E ratio of 15.7 and below the S&P 500 P/E ratio of 17.7.