Pinnacle West Capital Co. (NYSE:PNW) Given Average Rating of “Moderate Buy” by Analysts

Pinnacle West Capital Co. (NYSE:PNW) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $80.79.

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on Pinnacle West Capital from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 target price on the stock. Barclays lowered their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley raised their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle West Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gateway Investment Advisers LLC grew its stake in shares of Pinnacle West Capital by 89.0% in the 1st quarter. Gateway Investment Advisers LLC now owns 57,921 shares of the utilities provider’s stock worth $4,328,000 after buying an additional 27,283 shares during the last quarter. Riverview Trust Co bought a new position in shares of Pinnacle West Capital during the first quarter valued at $46,000. ERn Financial LLC raised its position in shares of Pinnacle West Capital by 57.9% in the 1st quarter. ERn Financial LLC now owns 12,816 shares of the utilities provider’s stock worth $958,000 after purchasing an additional 4,697 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Pinnacle West Capital by 12.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 25,376 shares of the utilities provider’s stock worth $1,896,000 after purchasing an additional 2,885 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in Pinnacle West Capital by 6.7% in the 1st quarter. Mirador Capital Partners LP now owns 7,915 shares of the utilities provider’s stock worth $591,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $88.12 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $91.57. The company has a fifty day moving average of $88.05 and a 200-day moving average of $81.46. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect that Pinnacle West Capital will post 4.77 EPS for the current year.

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.