Barclays Raises Pinnacle West Capital (NYSE:PNW) Price Target to $76.00

Pinnacle West Capital (NYSE:PNW) had its target price hoisted by Barclays from $75.00 to $76.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research firms have also commented on PNW. Mizuho lowered their price target on shares of Pinnacle West Capital from $77.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. UBS Group upgraded shares of Pinnacle West Capital from a sell rating to a neutral rating and increased their price target for the company from $68.00 to $71.00 in a research report on Monday, March 11th. StockNews.com lowered shares of Pinnacle West Capital from a hold rating to a sell rating in a research report on Thursday, March 14th. Morgan Stanley increased their price target on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. Finally, Bank of America upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and increased their price target for the company from $71.00 to $80.00 in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $73.00.

Pinnacle West Capital Trading Up 1.1 %

Shares of PNW opened at $71.97 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The firm’s 50-day moving average is $70.83 and its two-hundred day moving average is $72.04. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $86.03. The firm has a market capitalization of $8.17 billion, a P/E ratio of 16.32, a PEG ratio of 2.02 and a beta of 0.49.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.89%. Pinnacle West Capital’s dividend payout ratio is currently 79.82%.

Hedge Funds Weigh In On Pinnacle West Capital

Large investors have recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $25,000. Financial Gravity Asset Management Inc. raised its stake in shares of Pinnacle West Capital by 338.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 274 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $26,000. Tobam raised its stake in shares of Pinnacle West Capital by 2,620.0% in the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the period. Finally, First United Bank & Trust purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.