Analysts Set Pinnacle West Capital Co. (NYSE:PNW) PT at $76.04

Pinnacle West Capital Co. (NYSE:PNWGet Free Report) has been assigned an average recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $75.71.

A number of brokerages have recently issued reports on PNW. Citigroup began coverage on Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective on the stock. UBS Group upgraded Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $71.00 in a research note on Monday, March 11th. Bank of America upgraded 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 note on Monday, March 18th. Wells Fargo & Company increased their price target on Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Finally, StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Friday, June 7th.

Get Our Latest Report on Pinnacle West Capital

Pinnacle West Capital Trading Up 1.5 %

Shares of Pinnacle West Capital stock opened at $75.73 on Thursday. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $86.03. The stock has a market cap of $8.60 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $75.97 and its 200-day moving average is $72.88.

Pinnacle West Capital (NYSE:PNWGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The company had revenue of $951.71 million for the quarter, compared to analysts’ expectations of $981.82 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts predict that Pinnacle West Capital will post 4.77 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio is 76.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC grew its holdings in Pinnacle West Capital by 3.4% in the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after buying an additional 134 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Pinnacle West Capital by 9.2% during the 4th quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 174 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Pinnacle West Capital by 70.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 199 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Pinnacle West Capital by 4.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 229 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of Pinnacle West Capital by 6.1% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 233 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Pinnacle West Capital

(Get Free Report

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.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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