Pinnacle West Capital (NYSE:PNW) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Pinnacle West Capital (NYSE:PNW) from a sell rating to a hold rating in a research report released on Monday morning.

PNW has been the topic of several other research reports. Morgan Stanley lowered their target price on Pinnacle West Capital from $76.00 to $72.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. Citigroup started coverage on Pinnacle West Capital in a research note on Monday, April 29th. They set a neutral rating and a $78.00 price target for the company. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and raised their price target for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Barclays cut their target price on Pinnacle West Capital from $81.00 to $78.00 and set an overweight rating on the stock in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their target price on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an equal weight rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital has an average rating of Hold and a consensus price target of $77.41.

Pinnacle West Capital Trading Up 0.1 %

Shares of Pinnacle West Capital stock traded up $0.10 during trading on Monday, hitting $85.33. The stock had a trading volume of 806,442 shares, compared to its average volume of 1,169,295. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $89.39. The stock has a 50 day simple moving average of $79.01 and a 200 day simple moving average of $74.67. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $9.69 billion, a PE ratio of 18.59, a P/E/G ratio of 2.26 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.45. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.73%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. On average, research analysts expect that Pinnacle West Capital will post 4.75 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a $0.88 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a yield of 4.13%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

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. MeadowBrook Investment Advisors LLC bought a new stake in Pinnacle West Capital during the 4th quarter worth about $25,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $26,000. Blue Trust Inc. raised its position in shares of Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Tobam boosted its holdings in Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the last quarter. Finally, First United Bank & Trust acquired a new stake in Pinnacle West Capital in the fourth quarter worth about $29,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.