UBS Group Raises Pinnacle West Capital (NYSE:PNW) Price Target to $99.00

Pinnacle West Capital (NYSE:PNW) had its target price increased by equities researchers at UBS Group from $96.00 to $99.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price indicates a potential upside of 5.69% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Citigroup lifted their price objective 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. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $93.67 on Friday. The stock has a market cap of $11.16 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The business has a fifty day simple moving average of $89.46 and a 200-day simple moving average of $88.82. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 12 month low of $70.73 and a 12 month high of $95.42.

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 the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion during 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, sell-side analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors have recently bought and sold shares of the stock. 111 Capital bought a new position in Pinnacle West Capital during the fourth quarter valued at about $340,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pinnacle West Capital by 26.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider’s stock worth $2,524,000 after purchasing an additional 6,183 shares during the period. Probity Advisors Inc. increased its stake in shares of Pinnacle West Capital by 2.7% in the fourth quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 159 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Pinnacle West Capital in the fourth quarter worth about $1,453,000. Finally, Mackenzie Financial Corp increased its stake in shares of Pinnacle West Capital by 301.6% in the fourth quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider’s stock worth $1,453,000 after purchasing an additional 12,874 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.