Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of “Hold” from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $85.21.

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. KeyCorp upgraded 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. Finally, Morgan Stanley decreased their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd.

Pinnacle West Capital Trading Up 0.7 %

Shares of PNW opened at $92.20 on Tuesday. The stock has a market capitalization of $10.48 billion, a P/E ratio of 17.46, a PEG ratio of 3.59 and a beta of 0.57. 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 fifty day simple moving average of $86.39 and a two-hundred day simple moving average of $88.07. Pinnacle West Capital has a twelve month low of $66.77 and a twelve month high of $95.42.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is presently 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after buying an additional 116 shares during the last quarter. Norinchukin Bank The boosted its holdings in shares of Pinnacle West Capital by 2.7% in the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock worth $373,000 after buying an additional 117 shares during the last quarter. Fortem Financial Group LLC boosted its holdings in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock worth $485,000 after buying an additional 124 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after buying an additional 127 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Pinnacle West Capital by 10.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors 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.