Pinnacle West Capital Co. (NYSE:PNW) Given Average Rating of “Hold” by Analysts

Pinnacle West Capital Co. (NYSE:PNW) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $84.65.

A number of analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target for the company. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd.

Pinnacle West Capital Price Performance

PNW opened at $84.25 on Monday. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $95.42. The company has a 50 day moving average of $88.97 and a two-hundred day moving average of $86.35. The company has a market cap of $9.58 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.10 and a beta of 0.54. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds have recently added to or reduced their stakes in the business. Everence Capital Management Inc. bought a new position in shares of Pinnacle West Capital in the 4th quarter worth about $234,000. GAMMA Investing LLC lifted its holdings in Pinnacle West Capital by 31.9% in the fourth quarter. GAMMA Investing LLC now owns 1,513 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 366 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Pinnacle West Capital by 7.7% in the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after acquiring an additional 9,993 shares during the period. Synovus Financial Corp grew its holdings in shares of Pinnacle West Capital by 3.1% during the third quarter. Synovus Financial Corp now owns 7,585 shares of the utilities provider’s stock valued at $672,000 after purchasing an additional 229 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Pinnacle West Capital by 7.6% in the 3rd quarter. Tidal Investments LLC now owns 2,881 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds 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.