Pinnacle West Capital Co. (NYSE:PNW) Receives $80.54 Average Target Price from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has been given an average rating of “Hold” by the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $80.54.

A number of equities research analysts have recently issued reports on PNW shares. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. LADENBURG THALM/SH SH raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their target price for the company from $74.00 to $83.50 in a research note on Thursday, June 6th. Morgan Stanley raised their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

Pinnacle West Capital Trading Up 0.4 %

NYSE PNW opened at $88.59 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock’s 50-day simple moving average is $87.22 and its two-hundred day simple moving average is $79.71. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $91.57. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.30 and a beta of 0.52.

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, beating analysts’ consensus estimates of $1.31 by $0.45. The company had revenue of $1.31 billion for 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%. Pinnacle West Capital’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. Research analysts forecast that Pinnacle West Capital will post 4.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were 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 directly owns 6,397 shares in the company, valued at $548,862.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

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