Pinnacle West Capital (NYSE:PNW) Lowered to Sell at StockNews.com

StockNews.com cut shares of Pinnacle West Capital (NYSE:PNW) from a hold rating to a sell rating in a research note released on Thursday morning.

A number of other brokerages have also recently issued reports on PNW. Morgan Stanley cut their target price on Pinnacle West Capital from $76.00 to $72.00 and set an equal weight rating on the stock in a report on Monday. Barclays boosted their price objective on Pinnacle West Capital from $76.00 to $81.00 and gave the stock an overweight rating in a report on Monday, May 13th. Evercore ISI cut their target price on Pinnacle West Capital from $76.00 to $69.00 and set an in-line rating on the stock in a research report on Monday, March 4th. Royal Bank of Canada lowered their price target on Pinnacle West Capital from $83.00 to $80.00 and set a sector perform rating for the company in a research report on Friday, March 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the stock an equal weight rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $75.71.

Pinnacle West Capital Stock Up 0.4 %

Shares of NYSE:PNW opened at $75.94 on Thursday. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $86.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. The business’s 50-day moving average is $76.18 and its 200-day moving average is $72.92. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.92 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The firm had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts predict that Pinnacle West Capital will post 4.76 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.64%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 76.69%.

Institutional Trading of Pinnacle West Capital

A number of large investors have recently bought and sold shares of PNW. MeadowBrook Investment Advisors LLC bought a new position in shares of Pinnacle West Capital during the 4th quarter worth $25,000. Financial Gravity Asset Management Inc. increased its stake in shares of Pinnacle West Capital by 338.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $26,000. Tobam lifted its stake in shares of Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 393 shares in the last quarter. Finally, First United Bank & Trust bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $29,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.