Pinnacle West Capital Co. (NYSE:PNW) Receives Average Rating of “Moderate Buy” from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $95.17.

Several analysts recently weighed in on the company. UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Jefferies Financial Group dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Finally, KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Pinnacle West Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNW. Mesirow Financial Investment Management Inc. increased its holdings in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 116 shares in the last quarter. Norinchukin Bank The increased its stake in Pinnacle West Capital by 2.7% during the 4th quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 117 shares in the last quarter. Fortem Financial Group LLC raised its holdings in shares of Pinnacle West Capital by 2.2% in 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 during the last quarter. New York Life Investment Management LLC lifted its stake in shares of 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 during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of 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 valued at $135,000 after buying an additional 156 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $94.23 on Friday. 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 stock has a market cap of $11.22 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The firm has a 50-day moving average of $90.28 and a two-hundred day moving average of $88.97. Pinnacle West Capital has a 1 year low of $70.73 and a 1 year high of $95.42.

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

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.