Pinnacle West Capital Co. (NYSE:PNW) Given Consensus Recommendation of “Hold” by Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $84.65.

A number of research firms recently weighed in on PNW. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock. Citigroup raised their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research report on Wednesday, December 4th.

Pinnacle West Capital Stock Down 0.1 %

PNW stock opened at $84.25 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company’s 50-day moving average price is $88.97 and its 200 day moving average price is $86.35. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $95.42. The company has a market cap of $9.58 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.10 and a beta of 0.54.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNW. Venturi Wealth Management LLC grew its holdings in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 238 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Pinnacle West Capital during the 3rd quarter worth $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 2nd quarter worth $52,000. Kennebec Savings Bank purchased a new position in shares of Pinnacle West Capital in the 3rd quarter worth $64,000. Finally, Blue Trust Inc. boosted its holdings in Pinnacle West Capital by 193.5% in the third quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 712 shares during the last quarter. 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.