Pinnacle West Capital Co. (PNW) Receives Average Recommendation of “Hold” from Analysts

Pinnacle West Capital Co. (NYSE:PNW) has received a consensus rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $84.00.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Friday. Zacks Investment Research cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Wells Fargo & Co upgraded shares of Pinnacle West Capital to a “buy” rating and raised their price objective for the stock from $88.00 to $90.00 in a research report on Sunday, September 16th. Finally, UBS Group raised their price objective on shares of Pinnacle West Capital from $79.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th.

Shares of NYSE PNW traded down $1.19 during mid-day trading on Thursday, reaching $78.18. The company’s stock had a trading volume of 748,293 shares, compared to its average volume of 899,750. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 4.03 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.50 and a debt-to-equity ratio of 0.81. Pinnacle West Capital has a 1-year low of $73.41 and a 1-year high of $92.48.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Friday, August 3rd. The utilities provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. The business had revenue of $974.12 million during the quarter, compared to analysts’ expectations of $939.59 million. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. equities research analysts expect that Pinnacle West Capital will post 4.45 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in PNW. Piedmont Investment Advisors LLC purchased a new position in Pinnacle West Capital during the second quarter worth about $106,000. Point72 Asia Hong Kong Ltd purchased a new position in Pinnacle West Capital during the first quarter worth about $151,000. Dupont Capital Management Corp boosted its stake in Pinnacle West Capital by 223.9% during the second quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock worth $156,000 after buying an additional 1,339 shares during the period. Synovus Financial Corp boosted its stake in Pinnacle West Capital by 252.7% during the second quarter. Synovus Financial Corp now owns 2,000 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,433 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in Pinnacle West Capital during the first quarter worth about $201,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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