UBS Group Forecasts Strong Price Appreciation for Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital (NYSE:PNW) had its price target hoisted by analysts at UBS Group from $96.00 to $99.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price would suggest a potential upside of 5.69% from the stock’s current price.

A number of other research firms also recently weighed in on PNW. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.17.

Pinnacle West Capital Stock Down 0.6 %

PNW stock opened at $93.67 on Friday. Pinnacle West Capital has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a market cap of $11.16 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The business’s 50-day simple moving average is $89.46 and its 200 day simple moving average is $88.82. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $35,000. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter worth approximately $43,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.