Pinnacle West Capital Co. (NYSE:PNW) Receives $80.96 Consensus PT from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $82.04.

A number of analysts have recently issued reports on PNW shares. Morgan Stanley lifted their price objective on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

Pinnacle West Capital Stock Down 0.7 %

Shares of Pinnacle West Capital stock opened at $90.92 on Friday. The firm has a market cap of $10.34 billion, a PE ratio of 17.23, a P/E/G ratio of 2.15 and a beta of 0.52. The business’s 50 day simple moving average is $88.80 and its 200 day simple moving average is $83.56. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $93.12.

Pinnacle West Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, November 4th. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.80%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its stake in shares of Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 137 shares during the period. GAMMA Investing LLC grew its holdings in Pinnacle West Capital by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after buying an additional 138 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Pinnacle West Capital by 2.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after buying an additional 163 shares in the last quarter. LRI Investments LLC increased its position in Pinnacle West Capital by 7.0% during the 3rd quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock worth $227,000 after buying an additional 163 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Pinnacle West Capital by 2.6% during the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock worth $583,000 after buying an additional 169 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

About Pinnacle West Capital

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.