Pinnacle West Capital Co. (NYSE:PNW) Receives $77.95 Average Price Target from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has been given an average recommendation of “Hold” by the twelve research firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $77.95.

A number of analysts have weighed in on PNW shares. Morgan Stanley increased their price objective on Pinnacle West Capital from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Barclays decreased their price target on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $83.50 in a research note on Thursday, June 6th. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares of the company’s stock, valued at $548,862.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors have recently modified their holdings of PNW. Empirical Finance LLC boosted its position in Pinnacle West Capital by 3.4% during the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 134 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 137 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 199 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Pinnacle West Capital by 0.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock valued at $1,659,000 after purchasing an additional 199 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Pinnacle West Capital by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock worth $354,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.7 %

Shares of Pinnacle West Capital stock opened at $87.81 on Tuesday. The company has a fifty day simple moving average of $83.91 and a 200-day simple moving average of $77.51. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $89.63. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 1.28. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.23 and a beta of 0.52.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business posted $0.94 earnings per share. Pinnacle West Capital’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Pinnacle West Capital will post 4.75 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were given a $0.88 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.52 annualized dividend and a dividend yield of 4.01%. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.

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.