Pinnacle West Capital (NYSE:PNW) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital (NYSE:PNW) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on PNW. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Jefferies Financial Group dropped 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 note on Tuesday, January 28th. Morgan Stanley dropped 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 report on Friday, November 22nd. Finally, Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and an average price target of $93.81.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $94.23 on Monday. The firm’s 50 day moving average price is $89.00 and its two-hundred day moving average price is $88.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock has a market cap of $11.22 billion, a PE ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53. Pinnacle West Capital has a 52-week low of $70.73 and a 52-week high of $95.42.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC grew its position in Pinnacle West Capital by 261.2% during the third quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after buying an additional 66,755 shares during the period. XTX Topco Ltd bought a new position in Pinnacle West Capital during the third quarter worth about $2,235,000. Principal Financial Group Inc. boosted its position in Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock worth $12,336,000 after purchasing an additional 9,993 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Pinnacle West Capital by 47.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock worth $995,000 after purchasing an additional 3,758 shares during the period. Finally, Bridgewater Associates LP boosted its position in Pinnacle West Capital by 104.5% during the third quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider’s stock worth $9,034,000 after purchasing an additional 52,095 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.