Barclays Issues Positive Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW) had its price objective hoisted by Barclays from $87.00 to $94.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts also recently commented on the company. Wells Fargo & Company increased their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.50.

Pinnacle West Capital Price Performance

PNW opened at $95.06 on Tuesday. The firm has a market cap of $11.32 billion, a PE ratio of 18.00, a P/E/G ratio of 3.59 and a beta of 0.53. The stock has a 50-day moving average price of $90.98 and a 200-day moving average price of $89.13. Pinnacle West Capital has a 1 year low of $70.73 and a 1 year high of $96.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Sell-side analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Trading of Pinnacle West Capital

Several hedge funds have recently bought and sold shares of PNW. Glenmede Trust Co. NA lifted its position in shares of Pinnacle West Capital by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after buying an additional 163 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pinnacle West Capital by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,139 shares of the utilities provider’s stock valued at $2,138,000 after buying an additional 1,733 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Pinnacle West Capital by 2.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,803 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 500 shares in the last quarter. Atom Investors LP boosted its holdings in Pinnacle West Capital by 86.8% in the 3rd quarter. Atom Investors LP now owns 24,000 shares of the utilities provider’s stock worth $2,126,000 after buying an additional 11,149 shares during the period. Finally, Centiva Capital LP purchased a new stake in Pinnacle West Capital in the 3rd quarter worth $462,000. Institutional investors own 91.51% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.