Morgan Stanley upgraded shares of Pinnacle West Capital (NYSE:PNW) from an underweight rating to an equal weight rating in a report released on Tuesday, Marketbeat reports. The firm currently has $85.00 target price on the utilities provider’s stock.

Several other equities research analysts have also weighed in on PNW. SunTrust Banks set a $82.00 price objective on shares of Pinnacle West Capital and gave the stock a hold rating in a research note on Monday, February 5th. UBS Group initiated coverage on shares of Pinnacle West Capital in a research note on Friday, February 2nd. They set a neutral rating and a $81.00 price objective on the stock. Royal Bank of Canada restated a neutral rating on shares of Pinnacle West Capital in a research report on Thursday, February 1st. Williams Capital restated a hold rating and issued a $84.00 target price (down previously from $87.00) on shares of Pinnacle West Capital in a research report on Monday, January 29th. Finally, Zacks Investment Research cut shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $85.30.

Shares of Pinnacle West Capital (NYSE:PNW) opened at $76.82 on Tuesday. The firm has a market cap of $8,523.87, a PE ratio of 16.59, a P/E/G ratio of 5.45 and a beta of 0.27. Pinnacle West Capital has a 12 month low of $73.81 and a 12 month high of $92.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is 60.04%.

In other Pinnacle West Capital news, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the completion of the transaction, the executive vice president now owns 40,838 shares in the company, valued at approximately $3,637,440.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Donald E. Brandt sold 24,216 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,474,097.18. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of PNW. Thrivent Financial For Lutherans boosted its holdings in shares of Pinnacle West Capital by 2.8% in the second quarter. Thrivent Financial For Lutherans now owns 4,837 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 130 shares in the last quarter. FMR LLC boosted its holdings in shares of Pinnacle West Capital by 5.0% in the second quarter. FMR LLC now owns 158,363 shares of the utilities provider’s stock valued at $13,486,000 after acquiring an additional 7,584 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Pinnacle West Capital by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 273,662 shares of the utilities provider’s stock valued at $23,305,000 after acquiring an additional 4,518 shares in the last quarter. AHL Partners LLP bought a new position in shares of Pinnacle West Capital in the second quarter valued at approximately $635,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Pinnacle West Capital by 44.1% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 30,355 shares of the utilities provider’s stock valued at $2,584,000 after acquiring an additional 9,284 shares in the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.

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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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