Pinnacle West Capital Co. (NYSE:PNW) Receives $77.95 Consensus Target Price from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned a consensus rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $77.95.

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. LADENBURG THALM/SH SH upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Barclays reduced their target price on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased their price target on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares of the company’s stock, valued at approximately $548,862.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNW. MeadowBrook Investment Advisors LLC bought a new stake in Pinnacle West Capital during the fourth quarter worth about $25,000. Blue Trust Inc. boosted its holdings in shares of Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after buying an additional 291 shares during the last quarter. First United Bank & Trust bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at $29,000. Cape Investment Advisory Inc. bought a new position in shares of Pinnacle West Capital in the first quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Pinnacle West Capital by 70.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after buying an additional 199 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Down 0.1 %

NYSE PNW opened at $88.47 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $89.63. The stock has a market capitalization of $10.05 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 2.23 and a beta of 0.50. The stock has a fifty day moving average of $83.43 and a 200-day moving average of $77.29.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.45. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. On average, equities research analysts forecast that Pinnacle West Capital will post 4.75 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

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.