How To Put $100 In Your Retirement Fund Each Month With Pinnacle West Capital Stock

David Kirakosyan

Thu, Sep 5, 2024, 1:10 PM 4 min read

The company will report its Q3 2024 earnings on October 31. Wall Street analysts expect the company to post an EPS of $3.23, down from $3.50 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $1.65 billion, up slightly from $1.64 billion in the year-ago period.

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The 52-week Pinnacle West Capital stock price range was $65.20 to $89.39.

Pinnacle West Capital’s dividend yield is 4.02%. Over the last 12 months, it paid $3.52 per share in dividends.

The Latest On Pinnacle West Capital

On Aug. 1, Pinnacle West Capital reported its Q2 2024 earnings, posting an EPS of $1.76, compared to the consensus of $1.34, and revenues of $1.309 billion, compared to the consensus estimate of $1.208 billion, according to Benzinga.

"Our second quarter was marked by warmer-than-normal temperatures, including June being the hottest on record in the Phoenix metropolitan area," said Pinnacle West Chairman, President and Chief Executive Officer Jeff Guldner. "Since weather directly affects how much energy our customers use to cool their homes and businesses, retail sales and financial results were meaningfully higher than a year ago." Guldner also noted that cooler-than-usual temperatures, including the mildest June since, 2009, negatively impacted last year's second-quarter results.

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How Can You Earn $100 Per Month As A Pinnacle West Capital Investor?

If you want to make $100 per month –$1,200 annually – from Pinnacle West Capital dividends, your investment value needs to be approximately $29,851, which equates to 341 shares at $87.52 each.

Understanding the dividend yield calculations: To estimate, you need two key variables – the desired annual income ($1,200) and the dividend yield (4.02% in this case). So, $1,200 / 0.0402 = $29,851 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.

The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.

For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect, increasing the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find Pinnacle West Capital stock an attractive option for making a steady income of $100 per month by owning 341 shares of stock. There may be more upside as investors benefit from the company's consistent dividend hikes. Pinnacle West Capital has raised its dividend consecutively for the last 12 years.

Check out this article by Benzinga for three more stocks that have consistently raised their dividends and offer high dividend yields.

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This article How To Put $100 In Your Retirement Fund Each Month With Pinnacle West Capital Stock originally appeared on Benzinga.com

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