Jefferies Financial Group Lowers Pinnacle West Capital (NYSE:PNW) Price Target to $104.00

Pinnacle West Capital (NYSE:PNWFree Report) had its price target trimmed by Jefferies Financial Group from $106.00 to $104.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.21.

Read Our Latest Analysis on Pinnacle West Capital

Pinnacle West Capital Stock Performance

PNW opened at $87.15 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The business has a fifty day simple moving average of $87.34 and a 200 day simple moving average of $87.44. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $95.42. The company has a market capitalization of $9.91 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 3.40 and a beta of 0.56.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.11%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

Institutional Investors Weigh In On Pinnacle West Capital

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in Pinnacle West Capital by 125.9% in the 4th quarter. Allworth Financial LP now owns 655 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 365 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at $2,300,000. Asset Planning Inc acquired a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $72,000. Asset Management One Co. Ltd. grew its position in Pinnacle West Capital by 26.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,709 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 561 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Pinnacle West Capital by 8.9% in the 4th quarter. Van ECK Associates Corp now owns 34,242 shares of the utilities provider’s stock worth $2,903,000 after purchasing an additional 2,802 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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