Pinnacle West Capital Co. (NYSE:PNW) Receives $96.10 Average Price Target from Brokerages

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Pinnacle West Capital Co. (NYSE:PNW) has been given an average rating of “Hold” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $96.27.

PNW has been the subject of a number of analyst reports. Williams Capital reaffirmed a “hold” rating and issued a $97.00 price target (up from $87.00) on shares of Pinnacle West Capital in a report on Monday, August 12th. Zacks Investment Research lowered Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 price target for the company. in a report on Friday, October 18th. Credit Suisse Group raised their price target on Pinnacle West Capital from $101.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. ValuEngine lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI lowered Pinnacle West Capital from an “in-line” rating to an “underperform” rating in a report on Friday, August 9th.

In other Pinnacle West Capital news, VP Barbara D. Lockwood sold 1,750 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $86.19, for a total transaction of $150,832.50. Following the completion of the sale, the vice president now directly owns 1,646 shares in the company, valued at approximately $141,868.74. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.41% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. 6 Meridian grew its position in shares of Pinnacle West Capital by 1.9% during the 2nd quarter. 6 Meridian now owns 5,677 shares of the utilities provider’s stock valued at $534,000 after acquiring an additional 107 shares during the period. Silver Lake Advisory LLC grew its position in shares of Pinnacle West Capital by 0.7% during the 2nd quarter. Silver Lake Advisory LLC now owns 17,571 shares of the utilities provider’s stock valued at $1,653,000 after acquiring an additional 120 shares during the period. Zacks Investment Management grew its position in shares of Pinnacle West Capital by 0.4% during the 2nd quarter. Zacks Investment Management now owns 28,575 shares of the utilities provider’s stock valued at $2,689,000 after acquiring an additional 127 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Pinnacle West Capital by 0.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,340 shares of the utilities provider’s stock valued at $1,631,000 after acquiring an additional 128 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Pinnacle West Capital by 7.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,822 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 88.33% of the company’s stock.

Shares of NYSE PNW opened at $87.27 on Tuesday. The stock has a fifty day simple moving average of $92.28 and a two-hundred day simple moving average of $94.22. Pinnacle West Capital has a 1-year low of $81.63 and a 1-year high of $99.81. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 3.80 and a beta of 0.06. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.89.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $2.77 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.23). Pinnacle West Capital had a net margin of 14.07% and a return on equity of 9.19%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company posted $2.80 earnings per share. Pinnacle West Capital’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts forecast that Pinnacle West Capital will post 4.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.7825 per share. The ex-dividend date is Friday, November 1st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $3.13 dividend on an annualized basis and a yield of 3.59%. Pinnacle West Capital’s payout ratio is currently 68.94%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

Further Reading: Support Level

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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