Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $85.21

Pinnacle West Capital Co. (NYSE:PNW) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $88.77.

A number of equities analysts have issued reports on PNW shares. Guggenheim restated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Morgan Stanley lowered their target price 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. Wells Fargo & Company upped their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $94.22 on Tuesday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.59 and a beta of 0.57. Pinnacle West Capital has a 52-week low of $67.69 and a 52-week high of $95.42. The stock’s 50 day moving average price is $87.14 and its two-hundred day moving average price is $88.30. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. On average, equities analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd were paid a $0.895 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 3.80%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 68.58%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC grew its stake in Pinnacle West Capital by 261.2% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after purchasing an additional 66,755 shares during the period. XTX Topco Ltd bought a new position in Pinnacle West Capital in the 3rd quarter valued at $2,235,000. Principal Financial Group Inc. grew its stake in Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after purchasing an additional 9,993 shares during the period. Entropy Technologies LP grew its stake in Pinnacle West Capital by 170.1% in the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock valued at $2,686,000 after purchasing an additional 19,089 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Pinnacle West Capital by 47.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock valued at $995,000 after purchasing an additional 3,758 shares during the period. Institutional investors own 91.51% of the company’s stock.

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.