Jefferies Financial Group Issues Pessimistic Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW) had its price target dropped by equities researchers at Jefferies Financial Group from $106.00 to $104.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 20.07% from the company’s previous close.

PNW has been the subject of several other reports. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research report on Wednesday, December 4th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.21.

Pinnacle West Capital Trading Down 1.0 %

Shares of PNW stock traded down $0.86 on Tuesday, hitting $86.62. 914,045 shares of the company’s stock traded hands, compared to its average volume of 1,136,280. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 3.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The company’s fifty day simple moving average is $87.63 and its 200 day simple moving average is $87.35. Pinnacle West Capital has a one year low of $65.20 and a one year high of $95.42.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PNW. YANKCOM Partnership acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC increased its stake in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Roble Belko & Company Inc purchased a new position in Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.