Pinnacle West Capital Co. (NYSE:PNW) Receives $77.95 Average Price Target from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $77.95.

Several brokerages have weighed in on PNW. StockNews.com raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on Pinnacle West Capital from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Barclays lowered their price target on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, LADENBURG THALM/SH SH raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $74.00 to $83.50 in a research note on Thursday, June 6th.

Insiders Place Their Bets

In related 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 transaction, the executive vice president now owns 6,397 shares of the company’s stock, valued at $548,862.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNW. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in shares of Pinnacle West Capital by 377.9% in the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. First United Bank & Trust acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital in the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Pinnacle West Capital by 70.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after buying an additional 199 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

PNW opened at $87.81 on Tuesday. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $89.63. The firm has a market capitalization of $9.97 billion, a PE ratio of 19.13, a PEG ratio of 2.23 and a beta of 0.52. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average price is $83.91 and its 200 day moving average price is $77.51.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping 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 company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.52 annualized dividend and a yield of 4.01%. Pinnacle West Capital’s dividend payout ratio (DPR) is 76.69%.

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.