Pinnacle West Capital Co. (NYSE:PNW) Receives $97.00 Consensus PT from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned a consensus recommendation of “Hold” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $97.00.

Several equities research analysts have issued reports on PNW shares. Wells Fargo & Co restated a “hold” rating on shares of Pinnacle West Capital in a report on Friday, August 9th. ValuEngine cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. SunTrust Banks reduced their price objective on Pinnacle West Capital from $99.00 to $98.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Evercore ISI cut Pinnacle West Capital from an “in-line” rating to an “underperform” rating in a research report on Friday, August 9th. Finally, UBS Group reduced their price objective on Pinnacle West Capital from $103.00 to $99.00 and set a “neutral” rating for the company in a research report on Monday.

Hedge funds have recently bought and sold shares of the company. 6 Meridian boosted its position in Pinnacle West Capital by 1.9% during the second quarter. 6 Meridian now owns 5,677 shares of the utilities provider’s stock valued at $534,000 after purchasing an additional 107 shares during the last quarter. Securian Asset Management Inc lifted its position in shares of Pinnacle West Capital by 1.0% in the first quarter. Securian Asset Management Inc now owns 11,655 shares of the utilities provider’s stock valued at $1,114,000 after buying an additional 116 shares during the last quarter. Silver Lake Advisory LLC lifted its position in shares of Pinnacle West Capital by 0.7% in the second quarter. Silver Lake Advisory LLC now owns 17,571 shares of the utilities provider’s stock valued at $1,653,000 after buying an additional 120 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Pinnacle West Capital by 7.6% in the second quarter. Parallel Advisors LLC now owns 1,822 shares of the utilities provider’s stock valued at $171,000 after buying an additional 129 shares during the last quarter. Finally, First Manhattan Co. lifted its position in shares of Pinnacle West Capital by 0.5% in the first quarter. First Manhattan Co. now owns 27,521 shares of the utilities provider’s stock valued at $2,630,000 after buying an additional 131 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Shares of Pinnacle West Capital stock opened at $92.97 on Friday. Pinnacle West Capital has a 1 year low of $77.19 and a 1 year high of $99.81. The stock has a 50-day simple moving average of $93.53. The company has a market capitalization of $10.38 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.79 and a beta of 0.15. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 0.92.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.15). Pinnacle West Capital had a return on equity of 9.31% and a net margin of 13.84%. The business had revenue of $869.50 million during the quarter, compared to the consensus estimate of $973.16 million. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts expect that Pinnacle West Capital will post 4.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a dividend of $0.738 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.74. This represents a $2.95 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Wednesday, July 31st. Pinnacle West Capital’s dividend payout ratio is currently 64.98%.

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 generating facilities. The company serves approximately 1.2 million customers.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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