Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of “Hold” 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 covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $85.21.

Several equities research analysts have commented on the stock. Morgan Stanley lowered 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. Jefferies Financial Group lowered their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company lifted their target price 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. Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, 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 report on Wednesday, December 4th.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $87.15 on Friday. The firm has a market capitalization of $9.91 billion, a P/E ratio of 16.50, a PEG ratio of 3.40 and a beta of 0.56. The business has a 50-day moving average of $87.34 and a 200-day moving average of $87.44. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $95.42.

Pinnacle West Capital Dividend Announcement

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

Institutional Investors Weigh In On Pinnacle West Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNW. YANKCOM Partnership acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $29,000. Venturi Wealth Management LLC raised its position in Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $38,000. Prospera Private Wealth LLC bought a new position in shares of Pinnacle West Capital in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. 91.51% of the stock is owned by institutional investors.

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.