Pinnacle West Capital Co. (NYSE:PNW) Receives $95.17 Consensus PT from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $95.17.

A number of research firms have issued reports on PNW. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their price objective on shares of 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, Morgan Stanley increased their target price on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in PNW. Vanguard Group Inc. increased its holdings in Pinnacle West Capital by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock worth $1,202,116,000 after buying an additional 143,716 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Pinnacle West Capital by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock valued at $581,945,000 after acquiring an additional 37,768 shares during the period. State Street Corp increased its stake in shares of Pinnacle West Capital by 0.9% during the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock worth $567,394,000 after purchasing an additional 56,644 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the period. Finally, Zimmer Partners LP lifted its stake in Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.8 %

Shares of NYSE PNW opened at $93.01 on Friday. Pinnacle West Capital has a twelve month low of $70.73 and a twelve month high of $95.42. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average is $89.67 and its 200-day moving average is $88.85.

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

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.