Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $76.04

Pinnacle West Capital Co. (NYSE:PNWGet Free Report) has received an average recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $75.71.

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Pinnacle West Capital from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Bank of America raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $71.00 to $80.00 in a research note on Monday, March 18th. Citigroup assumed coverage on shares of Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price objective for the company. UBS Group raised shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $68.00 to $71.00 in a research note on Monday, March 11th. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Friday, June 7th.

Check Out Our Latest Stock Analysis on PNW

Pinnacle West Capital Trading Up 1.5 %

Shares of Pinnacle West Capital stock opened at $75.73 on Thursday. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $86.03. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.60 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50. The company has a 50-day moving average of $75.97 and a two-hundred day moving average of $72.88.

Pinnacle West Capital (NYSE:PNWGet Free Report) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The company had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that Pinnacle West Capital will post 4.77 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be issued a $0.88 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.65%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at $30,000. Verity Asset Management Inc. lifted its holdings in shares of Pinnacle West Capital by 6.9% during the 1st quarter. Verity Asset Management Inc. now owns 4,666 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 300 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at $569,000. Cetera Investment Advisers lifted its holdings in shares of Pinnacle West Capital by 177.0% during the 1st quarter. Cetera Investment Advisers now owns 29,090 shares of the utilities provider’s stock valued at $2,174,000 after acquiring an additional 18,589 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Pinnacle West Capital during the 1st quarter valued at $174,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

About Pinnacle West Capital

(Get Free Report

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.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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