UBS Group began coverage on shares of Pinnacle West Capital (NYSE:PNW) in a research report sent to investors on Friday, www.benzinga.com reports. The brokerage issued a neutral rating and a $81.00 price target on the utilities provider’s stock.

PNW has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a neutral rating on shares of Pinnacle West Capital in a research note on Thursday. Zacks Investment Research cut Pinnacle West Capital from a hold rating to a sell rating in a report on Monday, January 8th. SunTrust Banks set a $84.00 target price on Pinnacle West Capital and gave the stock a hold rating in a report on Monday, January 22nd. Bank of America cut Pinnacle West Capital from a neutral rating to an underperform rating and set a $84.00 target price for the company. in a report on Wednesday, January 3rd. Finally, ValuEngine cut Pinnacle West Capital from a buy rating to a hold rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $86.20.

Shares of Pinnacle West Capital (PNW) traded down $0.73 on Friday, reaching $77.73. The company had a trading volume of 681,587 shares, compared to its average volume of 680,831. The company has a market cap of $8,680.00, a P/E ratio of 16.79, a PEG ratio of 5.60 and a beta of 0.27. Pinnacle West Capital has a 52 week low of $76.89 and a 52 week high of $92.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.90 and a quick ratio of 0.68.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.13. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company earned $2.35 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. equities research analysts predict that Pinnacle West Capital will post 4.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s payout ratio is currently 60.04%.

In related news, Chairman Donald E. Brandt sold 24,216 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the completion of the transaction, the chairman now owns 94,358 shares in the company, valued at approximately $7,474,097.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David P. Falck sold 4,500 shares of Pinnacle West Capital stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at $3,637,440.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,881 shares of company stock valued at $4,124,196. 0.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PNW. Banced Corp bought a new position in shares of Pinnacle West Capital in the 4th quarter worth $201,000. Kovack Advisors Inc. purchased a new position in Pinnacle West Capital during the fourth quarter worth approximately $202,000. Stock Yards Bank & Trust Co. purchased a new position in Pinnacle West Capital during the third quarter worth approximately $205,000. Krilogy Financial LLC purchased a new position in Pinnacle West Capital during the third quarter worth approximately $211,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Pinnacle West Capital during the third quarter valued at approximately $214,000. 82.75% of the stock is owned by institutional investors and hedge funds.

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About Pinnacle West Capital

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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