Pinnacle West Capital Co. (NYSE:PNW) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been assigned an average rating of “Hold” from the twelve analysts that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $85.21.

PNW has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Citigroup raised their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its position in Pinnacle West Capital by 301.6% in the fourth quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider’s stock worth $1,453,000 after purchasing an additional 12,874 shares during the last quarter. GTS Securities LLC increased its position in Pinnacle West Capital by 272.2% in the fourth quarter. GTS Securities LLC now owns 10,273 shares of the utilities provider’s stock worth $871,000 after purchasing an additional 7,513 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Pinnacle West Capital by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,408 shares of the utilities provider’s stock worth $26,568,000 after purchasing an additional 25,753 shares during the last quarter. Voloridge Investment Management LLC increased its position in Pinnacle West Capital by 19.5% in the fourth quarter. Voloridge Investment Management LLC now owns 968,894 shares of the utilities provider’s stock worth $82,133,000 after purchasing an additional 158,266 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in Pinnacle West Capital in the fourth quarter worth $579,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $92.20 on Tuesday. Pinnacle West Capital has a 12 month low of $66.77 and a 12 month high of $95.42. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 3.59 and a beta of 0.57. The company’s 50 day moving average is $86.39 and its two-hundred day moving average is $88.07. 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 Dividend Announcement

The firm 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 $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.88%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

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.