Pinnacle West Capital Co. (NYSE:PNW) Receives Consensus Rating of “Hold” from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $97.00.

A number of research analysts have weighed in on PNW shares. Zacks Investment Research upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Monday, May 20th. Argus upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, July 30th. Williams Capital reiterated a “hold” rating and set a $97.00 target price (up previously from $87.00) on shares of Pinnacle West Capital in a report on Monday. ValuEngine downgraded Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, UBS Group reduced their target price on Pinnacle West Capital from $103.00 to $99.00 and set a “neutral” rating on the stock in a report on Monday.

Shares of PNW stock traded up $0.37 during midday trading on Friday, reaching $94.15. 83,812 shares of the stock were exchanged, compared to its average volume of 1,068,771. Pinnacle West Capital has a 1 year low of $77.19 and a 1 year high of $99.81. The company’s 50 day moving average is $93.40 and its two-hundred day moving average is $94.04. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 0.92. The firm has a market cap of $10.44 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 3.21 and a beta of 0.15.



Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.15). Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The firm had revenue of $869.50 million for the quarter, compared to analysts’ expectations of $973.16 million. During the same quarter last year, the company posted $1.48 EPS. The firm’s revenue was down 10.7% on a year-over-year basis. As a group, equities analysts expect that Pinnacle West Capital will post 4.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a $0.738 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.14%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio is presently 64.98%.

Several institutional investors have recently bought and sold shares of the stock. Zions Bancorporation N.A. bought a new position in Pinnacle West Capital in the 1st quarter valued at approximately $26,000. Weaver Consulting Group bought a new position in Pinnacle West Capital in the 1st quarter valued at approximately $29,000. CSat Investment Advisory L.P. lifted its position in Pinnacle West Capital by 50.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 448 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 150 shares in the last quarter. Old North State Trust LLC lifted its position in Pinnacle West Capital by 27.6% in the 2nd quarter. Old North State Trust LLC now owns 721 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 156 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Pinnacle West Capital by 492.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 747 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 621 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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