Jefferies Financial Group Lowers Pinnacle West Capital (NYSE:PNW) Price Target to $104.00

Pinnacle West Capital (NYSE:PNWGet Free Report) had its price objective lowered by research analysts at Jefferies Financial Group from $106.00 to $104.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 21.00% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Citigroup increased their target price 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. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a report on Monday, November 18th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased 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. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.21.

Get Our Latest Research Report on PNW

Pinnacle West Capital Trading Down 0.6 %

PNW stock opened at $85.95 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $95.42. The company has a market capitalization of $9.77 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 3.40 and a beta of 0.56. The company’s 50-day simple moving average is $87.34 and its 200 day simple moving average is $87.44.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors have recently bought and sold shares of PNW. HITE Hedge Asset Management LLC lifted its holdings in shares of Pinnacle West Capital by 261.2% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,311 shares of the utilities provider’s stock valued at $8,178,000 after acquiring an additional 66,755 shares during the last quarter. XTX Topco Ltd purchased a new stake in Pinnacle West Capital during the third quarter valued at approximately $2,235,000. Principal Financial Group Inc. lifted its stake in shares of Pinnacle West Capital by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after purchasing an additional 9,993 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of Pinnacle West Capital by 170.1% in the 3rd quarter. Entropy Technologies LP now owns 30,314 shares of the utilities provider’s stock worth $2,686,000 after purchasing an additional 19,089 shares during the period. Finally, Bridgewater Associates LP increased its position in shares of Pinnacle West Capital by 104.5% during the 3rd quarter. Bridgewater Associates LP now owns 101,970 shares of the utilities provider’s stock valued at $9,034,000 after purchasing an additional 52,095 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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