Pinnacle West Capital (NYSE:PNW) Research Coverage Started at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital (NYSE:PNW) in a research report issued to clients and investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $104.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 16.81% from the company’s previous close.

A number of other brokerages have also recently weighed in on PNW. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Barclays decreased their target price on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley lifted 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. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their target price for the company from $74.00 to $83.50 in a research note on Thursday, June 6th. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $80.13.

Pinnacle West Capital Stock Down 1.3 %

Shares of NYSE:PNW traded down $1.19 during midday trading on Thursday, hitting $89.03. 1,038,119 shares of the stock were exchanged, compared to its average volume of 1,101,715. The company has a market capitalization of $10.11 billion, a PE ratio of 19.40, a P/E/G ratio of 2.27 and a beta of 0.52. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $91.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The business’s fifty day simple moving average is $86.08 and its two-hundred day simple moving average is $78.73.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, research analysts predict that Pinnacle West Capital will post 4.77 earnings per share for the current fiscal year.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’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 value of $424,710.00. Following the completion of the sale, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC grew its position in shares of Pinnacle West Capital by 3.4% during the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after buying an additional 134 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 137 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Pinnacle West Capital by 0.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock valued at $1,659,000 after acquiring an additional 199 shares during the period. Finally, SFE Investment Counsel boosted its holdings in shares of Pinnacle West Capital by 1.3% during the 2nd quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock worth $1,408,000 after buying an additional 245 shares during the period. 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.