Pinnacle West Capital (NYSE:PNW) Receives “Buy” Rating from Guggenheim

Guggenheim restated their buy rating on shares of Pinnacle West Capital (NYSE:PNW) in a research note released on Wednesday morning,Benzinga reports. They currently have a $100.00 price objective on the utilities provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group decreased their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Citigroup raised their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.58.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $91.67 on Wednesday. The company has a market cap of $10.42 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. Pinnacle West Capital has a 12 month low of $66.77 and a 12 month high of $95.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company has a 50-day simple moving average of $86.53 and a 200-day simple moving average of $88.12.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.91%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Institutional Trading of Pinnacle West Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $35,000. Venturi Wealth Management LLC increased its stake in shares of Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after buying an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $38,000. Finally, Roble Belko & Company Inc bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth $42,000. Institutional investors 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.