Pinnacle West Capital (NYSE:PNW) Earns “Buy” Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Pinnacle West Capital (NYSE:PNW) in a research report report published on Wednesday,Benzinga reports. Guggenheim currently has a $100.00 price target on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group dropped their price target on 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. Morgan Stanley dropped their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.58.

Pinnacle West Capital Price Performance

Shares of PNW opened at $92.53 on Wednesday. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital has a one year low of $67.51 and a one year high of $95.42. The stock’s fifty day moving average is $86.80 and its 200-day moving average is $88.16.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 3.87%. Pinnacle West Capital’s payout ratio is 67.80%.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $1,453,000. Mackenzie Financial Corp lifted its holdings in Pinnacle West Capital by 301.6% in the 4th quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider’s stock worth $1,453,000 after purchasing an additional 12,874 shares during the last quarter. GTS Securities LLC lifted its holdings in Pinnacle West Capital by 272.2% in the 4th quarter. GTS Securities LLC now owns 10,273 shares of the utilities provider’s stock worth $871,000 after purchasing an additional 7,513 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Pinnacle West Capital by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,408 shares of the utilities provider’s stock worth $26,568,000 after purchasing an additional 25,753 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Pinnacle West Capital by 19.5% in the 4th quarter. Voloridge Investment Management LLC now owns 968,894 shares of the utilities provider’s stock worth $82,133,000 after purchasing an additional 158,266 shares during the last quarter. 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.