Pinnacle West Capital (NYSE:PNW) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Pinnacle West Capital (NYSE:PNW – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Wolfe Research raised shares of Pinnacle West Capital from an underperform rating to a peer perform rating in a research note on Thursday, November 17th. Mizuho cut their target price on shares of Pinnacle West Capital from $76.00 to $74.00 and set a neutral rating on the stock in a research note on Thursday, March 2nd. Siebert Williams Shank increased their price objective on shares of Pinnacle West Capital to $91.00 in a research report on Monday, November 28th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $79.00 to $76.00 and set an equal weight rating on the stock in a research report on Wednesday, February 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $70.00 to $82.00 in a research report on Wednesday, December 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of Hold and a consensus price target of $74.18.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $77.64 on Thursday. The firm’s 50 day moving average price is $75.07 and its 200-day moving average price is $73.21. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 0.99. Pinnacle West Capital has a one year low of $59.03 and a one year high of $80.60. The firm has a market cap of $8.79 billion, a P/E ratio of 18.18 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW – Get Rating) last announced its earnings results on Monday, February 27th. The utilities provider reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.03). Pinnacle West Capital had a return on equity of 7.87% and a net margin of 11.18%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $638.28 million. During the same period in the previous year, the company earned $0.24 earnings per share. Pinnacle West Capital’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, equities research analysts predict that Pinnacle West Capital will post 4.09 EPS for the current year.

Institutional Trading of Pinnacle West Capital

A number of large investors have recently bought and sold shares of PNW. HighTower Advisors LLC boosted its stake in Pinnacle West Capital by 8.0% during the 1st quarter. HighTower Advisors LLC now owns 21,980 shares of the utilities provider’s stock worth $1,718,000 after purchasing an additional 1,630 shares during the period. MetLife Investment Management LLC boosted its stake in Pinnacle West Capital by 23.1% during the 1st quarter. MetLife Investment Management LLC now owns 30,693 shares of the utilities provider’s stock worth $2,397,000 after purchasing an additional 5,768 shares during the period. Great West Life Assurance Co. Can boosted its stake in Pinnacle West Capital by 5.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,722 shares of the utilities provider’s stock worth $2,599,000 after purchasing an additional 1,681 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pinnacle West Capital by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 494,515 shares of the utilities provider’s stock worth $38,620,000 after purchasing an additional 31,526 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Pinnacle West Capital by 7.8% in the 1st quarter. Sei Investments Co. now owns 135,551 shares of the utilities provider’s stock worth $10,571,000 after acquiring an additional 9,777 shares during the period. Institutional investors and hedge funds own 85.21% of the company’s stock.

Pinnacle West Capital Company Profile

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Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.