Analysts Set Pinnacle West Capital Co. (PNW) Target Price at $85.25

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been assigned an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $85.13.

A number of equities analysts have weighed in on the stock. SunTrust Banks reaffirmed a “hold” rating and issued a $91.00 target price on shares of Pinnacle West Capital in a research note on Friday, November 24th. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. Bank of America assumed coverage on shares of Pinnacle West Capital in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 target price for the company. ValuEngine raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research raised shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Thursday, October 26th.

Shares of Pinnacle West Capital (NYSE:PNW) traded up $0.44 during midday trading on Wednesday, hitting $76.73. 935,318 shares of the company’s stock were exchanged, compared to its average volume of 778,041. Pinnacle West Capital has a one year low of $73.81 and a one year high of $92.48. The company has a market capitalization of $8,570.00, a P/E ratio of 16.57, a PEG ratio of 5.45 and a beta of 0.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, January 31st. Pinnacle West Capital’s dividend payout ratio is 60.04%.

In related news, EVP David P. Falck sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $89.07, for a total transaction of $400,815.00. Following the completion of the transaction, the executive vice president now owns 40,838 shares in the company, valued at $3,637,440.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Donald E. Brandt sold 24,216 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the transaction, the chairman now owns 94,358 shares of the company’s stock, valued at approximately $7,474,097.18. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PNW. Thrivent Financial For Lutherans grew its holdings in Pinnacle West Capital by 2.8% during the second quarter. Thrivent Financial For Lutherans now owns 4,837 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 130 shares during the period. FMR LLC grew its holdings in Pinnacle West Capital by 5.0% during the second quarter. FMR LLC now owns 158,363 shares of the utilities provider’s stock valued at $13,486,000 after purchasing an additional 7,584 shares during the period. Advisor Group Inc. grew its holdings in Pinnacle West Capital by 149.0% during the second quarter. Advisor Group Inc. now owns 4,686 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 2,804 shares during the period. Dimensional Fund Advisors LP grew its holdings in Pinnacle West Capital by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 273,662 shares of the utilities provider’s stock valued at $23,305,000 after purchasing an additional 4,518 shares during the period. Finally, AHL Partners LLP acquired a new position in Pinnacle West Capital during the second quarter valued at approximately $635,000. Hedge funds and other institutional investors own 82.54% of the company’s stock.

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About Pinnacle West Capital

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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