NEW YORK ( TheStreet) -- Pinnacle West Capital Corporation (NYSE: PNW) hit a new 52-week high Wednesday as it is currently trading at $51.47, above its previous 52-week high of $51.46 with 236,484 shares traded as of 1:37 p.m. ET. Average volume has been 744,900 shares over the past 30 days. Pinnacle West has a market cap of $5.56 billion and is part of the utilities sector and utilities industry. Shares are up 4.5% year to date as of the close of trading on Tuesday. 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 16.4, below the average utilities industry P/E ratio of 16.6 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Pinnacle West as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, growth in earnings per share, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Pinnacle West Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.