Pinnacle West Capital (NYSE:PNW) Price Target Raised to $94.00 at Barclays

Pinnacle West Capital (NYSE:PNW) had its price objective hoisted by Barclays from $87.00 to $94.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on PNW. Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley increased 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, March 20th. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, KeyCorp raised 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 note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.50.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $95.23 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market cap of $11.34 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. Pinnacle West Capital has a 12 month low of $70.73 and a 12 month high of $95.83. The company’s 50-day moving average price is $90.60 and its two-hundred day moving average price is $89.04.

Pinnacle West Capital (NYSE:PNW) last announced 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. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities 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 hedge funds have recently added to or reduced their stakes in PNW. YANKCOM Partnership acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $35,000. Brown Lisle Cummings Inc. acquired a new position in Pinnacle West Capital during the fourth quarter valued at approximately $38,000. Roble Belko & Company Inc bought a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $42,000. Finally, Transcendent Capital Group LLC acquired a new stake in Pinnacle West Capital in the fourth quarter worth $46,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.