Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Price Target at $85.21

Pinnacle West Capital Co. (NYSE:PNW) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $85.21.

Several equities analysts have weighed in on PNW shares. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Jefferies Financial Group cut their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, December 4th. Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors have recently added to or reduced their stakes in the company. Fortem Financial Group LLC grew its position in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares in the last quarter. New York Life Investment Management LLC grew its position in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after buying an additional 127 shares in the last quarter. GAMMA Investing LLC grew its position in Pinnacle West Capital by 13.7% during the third quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after buying an additional 138 shares in the last quarter. Global Retirement Partners LLC grew its position in Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after buying an additional 156 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock worth $593,000 after buying an additional 163 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $87.77 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $95.42. The business has a fifty day simple moving average of $86.72 and a 200 day simple moving average of $87.64. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 3.44 and a beta of 0.57.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

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.