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

LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital (NYSE:PNW) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research report on Wednesday, December 4th. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Guggenheim reiterated a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Moderate Buy” and an average target price of $93.81.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $93.33 on Monday. 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 firm’s 50-day moving average is $88.79 and its two-hundred day moving average is $88.70. Pinnacle West Capital has a 12 month low of $70.73 and a 12 month high of $95.42. The company has a market capitalization of $11.12 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $35,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $38,000. Roble Belko & Company Inc acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $42,000. Finally, Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.