Pinnacle West Capital (NYSE:PNW) Price Target Raised to $88.00

Pinnacle West Capital (NYSE:PNW) had its target price increased by Morgan Stanley from $84.00 to $88.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on PNW. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Citigroup increased their price objective 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. Finally, Jefferies Financial Group dropped 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 report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $93.67 on Thursday. The firm has a market cap of $11.16 billion, a PE ratio of 17.74, a PEG ratio of 3.59 and a beta of 0.53. 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 $70.73 and a 1-year high of $95.42. The company has a fifty day moving average price of $89.46 and a 200 day moving average price of $88.82.

Pinnacle West Capital (NYSE:PNW) last posted 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Research analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. YANKCOM Partnership bought a new position in Pinnacle West Capital in the 4th quarter valued at about $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital in the 4th quarter valued at about $35,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital in the 4th quarter valued at about $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the 4th quarter valued at about $42,000. Finally, Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the 3rd quarter valued at about $43,000. 91.51% of the stock is owned by institutional investors.

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.