Pinnacle West Capital (NYSE:PNW) Given New $95.00 Price Target at Citigroup

Pinnacle West Capital (NYSE:PNW) had its target price hoisted by equities researchers at Citigroup from $85.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Citigroup’s price objective would indicate a potential upside of 2.65% from the stock’s current price.

PNW has been the topic of several other reports. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective on the stock. KeyCorp raised 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 report on Wednesday. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Morgan Stanley dropped their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and a consensus price target of $84.65.

Pinnacle West Capital Stock Up 1.4 %

Pinnacle West Capital stock traded up $1.27 during trading hours on Wednesday, hitting $92.55. 294,236 shares of the stock traded hands, compared to its average volume of 1,159,128. The firm’s 50-day moving average price is $89.47 and its two-hundred day moving average price is $84.79. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market cap of $10.52 billion, a PE ratio of 17.51, a PEG ratio of 2.19 and a beta of 0.54. Pinnacle West Capital has a one year low of $65.20 and a one year high of $95.42.

Institutional Investors Weigh In On Pinnacle West Capital

A number of hedge funds have recently added to or reduced their stakes in PNW. Blue Trust Inc. raised its stake in Pinnacle West Capital by 377.9% during 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 during the last quarter. Venturi Wealth Management LLC raised its stake in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after buying an additional 238 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital during the 3rd quarter valued at $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in Pinnacle West Capital during the 2nd quarter valued at $52,000. Finally, First Horizon Advisors Inc. raised its stake in Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after buying an additional 137 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.