Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Price Target at $73.42

Pinnacle West Capital Co. (NYSE:PNW) has earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $73.67.

A number of equities analysts have weighed in on the stock. Mizuho decreased their target price on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Royal Bank of Canada lowered their price target on Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Guggenheim raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Monday, January 22nd. LADENBURG THALM/SH SH assumed coverage on Pinnacle West Capital in a research report on Wednesday, February 14th. They set a “neutral” rating and a $69.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Pinnacle West Capital from $74.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday.

Institutional Trading of Pinnacle West Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $25,000. Financial Gravity Asset Management Inc. increased its stake in shares of Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 274 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Pinnacle West Capital during the 4th quarter worth approximately $26,000. First United Bank & Trust purchased a new stake in Pinnacle West Capital during the 4th quarter worth approximately $29,000. Finally, Tobam increased its stake in Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock worth $29,000 after buying an additional 393 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $75.79 on Wednesday. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $86.03. The company has a 50-day simple moving average of $72.41 and a 200 day simple moving average of $72.13. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.67. The company has a market capitalization of $8.61 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.48.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. Pinnacle West Capital had a net margin of 10.68% and a return on equity of 8.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, research analysts predict that Pinnacle West Capital will post 4.7 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.64%. Pinnacle West Capital’s dividend payout ratio is presently 79.82%.

Pinnacle West Capital Company Profile

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.