Pinnacle West Capital (NYSE:PNW – Free Report) had its target price hoisted by Barclays from $75.00 to $76.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.
Several other research firms have also commented on PNW. Mizuho lowered their price target on shares of Pinnacle West Capital from $77.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. UBS Group upgraded shares of Pinnacle West Capital from a sell rating to a neutral rating and increased their price target for the company from $68.00 to $71.00 in a research report on Monday, March 11th. StockNews.com lowered shares of Pinnacle West Capital from a hold rating to a sell rating in a research report on Thursday, March 14th. Morgan Stanley increased their price target on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Finally, Bank of America upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and increased their price target for the company from $71.00 to $80.00 in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $73.00.
Check Out Our Latest Analysis on Pinnacle West Capital
Pinnacle West Capital Trading Up 1.1 %
Pinnacle West Capital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.89%. Pinnacle West Capital’s dividend payout ratio is currently 79.82%.
Hedge Funds Weigh In On Pinnacle West Capital
Large investors have recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $25,000. Financial Gravity Asset Management Inc. raised 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 acquiring an additional 274 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $26,000. Tobam raised its stake in shares of Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the period. Finally, First United Bank & Trust purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. 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.
See Also
- Five stocks we like better than Pinnacle West Capital
- What Does a Stock Split Mean?
- United Airlines Soars on Earnings Beat
- Insider Selling Explained: Can it Inform Your Investing Choices?
- J.B. Hunt Hits the Skids: Lower Prices to Come
- Investing In Preferred Stock vs. Common Stock
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.