Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of “Hold” from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $75.71.

A number of research analysts have issued reports on PNW shares. Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. Royal Bank of Canada lowered their target price on Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Barclays lifted their price target on Pinnacle West Capital from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. UBS Group raised shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $71.00 in a research note on Monday, March 11th. Finally, Citigroup initiated coverage on shares of Pinnacle West Capital in a research report on Monday, April 29th. They set a “neutral” rating and a $78.00 target price for the company.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC purchased a new stake in Pinnacle West Capital in the 4th quarter valued at about $25,000. Financial Gravity Asset Management Inc. increased its position in Pinnacle West Capital by 338.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Pinnacle West Capital during the fourth quarter worth approximately $26,000. First United Bank & Trust acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $29,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Pinnacle West Capital during the 1st quarter valued at $30,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 0.5 %

PNW opened at $75.63 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $86.03. The stock has a market capitalization of $8.59 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.92 and a beta of 0.50. The business has a 50 day simple moving average of $76.12 and a 200-day simple moving average of $72.90.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The company had revenue of $951.71 million during the quarter, compared to the consensus estimate of $981.82 million. During the same quarter last year, the company earned ($0.03) earnings per share. Pinnacle West Capital’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that Pinnacle West Capital will post 4.76 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Thursday, August 1st. Pinnacle West Capital’s dividend payout ratio is presently 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.