Pinnacle West Capital (NYSE:PNW) Upgraded at StockNews.com

Pinnacle West Capital (NYSE:PNW) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other brokerages have also recently weighed in on PNW. Barclays reduced their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday. 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 price objective on the stock. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $83.50 in a research report on Thursday, June 6th. Finally, Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.41.

Pinnacle West Capital Stock Down 3.4 %

PNW stock traded down $3.01 during trading on Monday, hitting $85.22. 1,337,831 shares of the stock traded hands, compared to its average volume of 1,171,734. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $89.39. The firm’s 50 day moving average is $78.67 and its two-hundred day moving average is $74.45. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50. 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 (NYSE:PNW) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.73%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Pinnacle West Capital will post 4.75 EPS for the current year.

Institutional Trading of Pinnacle West Capital

A number of hedge funds have recently added to or reduced their stakes in PNW. Ballentine Partners LLC purchased a new stake in Pinnacle West Capital in the fourth quarter worth about $214,000. Asset Management One Co. Ltd. lifted its stake in Pinnacle West Capital by 44.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,895 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 581 shares during the period. International Assets Investment Management LLC lifted its position in shares of Pinnacle West Capital by 1,650.8% during the fourth quarter. International Assets Investment Management LLC now owns 10,417 shares of the utilities provider’s stock valued at $748,000 after buying an additional 9,822 shares during the last quarter. Sowell Financial Services LLC lifted its position in shares of Pinnacle West Capital by 2.9% during the fourth quarter. Sowell Financial Services LLC now owns 10,742 shares of the utilities provider’s stock valued at $772,000 after buying an additional 304 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in shares of Pinnacle West Capital by 6.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock valued at $293,000 after buying an additional 233 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle West Capital

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.