Pinnacle West Capital (NYSE:PNW) Raised to Strong-Buy at LADENBURG THALM/SH SH

Pinnacle West Capital (NYSE:PNW) was upgraded by equities researchers at LADENBURG THALM/SH SH to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on PNW. Wells Fargo & Company upped their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Jefferies Financial Group dropped their price objective 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. Citigroup increased their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.81.

Pinnacle West Capital Price Performance

Shares of PNW opened at $93.33 on Monday. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital has a fifty-two week low of $70.73 and a fifty-two week high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The business’s 50-day moving average is $88.79 and its 200-day moving average is $88.70.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Equities research analysts expect that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds have recently modified their holdings of PNW. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital in the fourth quarter worth $35,000. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital in the fourth quarter worth $38,000. Roble Belko & Company Inc bought a new position in Pinnacle West Capital in the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC bought a new position in Pinnacle West Capital in the third quarter worth $43,000. 91.51% of the stock is owned by 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.