Williams Capital upgraded shares of Pinnacle West Capital Corp. (NYSE:PNW) from a hold rating to a buy rating in a research report sent to investors on Monday. Williams Capital currently has $79.00 target price on the stock.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Pinnacle West Capital Corp. from a buy rating to a hold rating in a report on Monday, October 3rd. SunTrust Banks Inc. lowered their target price on shares of Pinnacle West Capital Corp. from $76.00 to $74.00 and set a neutral rating for the company in a report on Monday, August 29th. BMO Capital Markets restated a hold rating on shares of Pinnacle West Capital Corp. in a report on Monday, July 18th. Royal Bank Of Canada restated a sector perfor rating and issued a $69.00 target price (down previously from $73.00) on shares of Pinnacle West Capital Corp. in a report on Monday, June 20th. Finally, Mizuho upped their target price on shares of Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the company a neutral rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $71.40.

Shares of Pinnacle West Capital Corp. (NYSE:PNW) traded down 0.65% on Monday, hitting $73.30. 148,352 shares of the company traded hands. Pinnacle West Capital Corp. has a 12 month low of $60.70 and a 12 month high of $82.78. The stock’s 50-day moving average price is $75.94 and its 200-day moving average price is $76.03. The company has a market capitalization of $8.15 billion, a PE ratio of 19.36 and a beta of 0.33.

Pinnacle West Capital Corp. (NYSE:PNW) last issued its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by $0.06. Pinnacle West Capital Corp. had a net margin of 12.02% and a return on equity of 8.94%. The company earned $915.40 million during the quarter, compared to analyst estimates of $915.40 million. During the same quarter in the previous year, the company posted $1.10 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Pinnacle West Capital Corp. will post $3.99 earnings per share for the current year.

In other Pinnacle West Capital Corp. news, VP John S. Hatfield sold 4,523 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $75.27, for a total transaction of $340,446.21. Following the sale, the vice president now directly owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its stake in Pinnacle West Capital Corp. by 18.0% in the first quarter. TIAA CREF Investment Management LLC now owns 754,741 shares of the company’s stock valued at $56,658,000 after buying an additional 115,271 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pinnacle West Capital Corp. by 1.1% in the first quarter. Prudential Financial Inc. now owns 143,905 shares of the company’s stock valued at $10,803,000 after buying an additional 1,600 shares in the last quarter. BlackRock Group LTD boosted its stake in Pinnacle West Capital Corp. by 1.6% in the first quarter. BlackRock Group LTD now owns 937,751 shares of the company’s stock valued at $70,398,000 after buying an additional 14,491 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Pinnacle West Capital Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,049,451 shares of the company’s stock valued at $228,922,000 after buying an additional 18,471 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its stake in Pinnacle West Capital Corp. by 4.2% in the first quarter. Sentry Investment Management LLC now owns 8,273 shares of the company’s stock valued at $621,000 after buying an additional 337 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors.

About Pinnacle West Capital Corp.

Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.

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