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NEW YORK ( TheStreet) -- Pinnacle West Capital Corporation (NYSE: PNW) hit a new 52-week high Friday as it is currently trading at $49.29, above its previous 52-week high of $49.27 with 61,095 shares traded as of 10:35 a.m. ET. Average volume has been 721,100 shares over the past 30 days. Pinnacle West has a market cap of $5.32 billion and is part of the utilities sector and utilities industry. Shares are up 1.5% year to date as of the close of trading on Thursday. 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 15.7, below the average utilities industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.