Pinnacle West Capital (NYSE:PNW) Price Target Raised to $95.00

Pinnacle West Capital (NYSE:PNW) had its target price hoisted by Wells Fargo & Company from $92.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

PNW has been the subject of a number of other research reports. Citigroup upped their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Jefferies Financial Group reduced their target price on 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. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $93.00 to $91.00 in a research report on Monday, November 18th. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target 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 on the stock in a report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $86.58.

Pinnacle West Capital Trading Up 1.8 %

Pinnacle West Capital stock opened at $92.53 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a market cap of $10.52 billion, a PE ratio of 17.53, a P/E/G ratio of 3.59 and a beta of 0.57. The stock’s 50 day simple moving average is $86.80 and its two-hundred day simple moving average is $88.16. Pinnacle West Capital has a 12 month low of $67.51 and a 12 month high of $95.42.

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

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 3.87%. Pinnacle West Capital’s payout ratio is presently 67.80%.

Institutional Trading of Pinnacle West Capital

A number of hedge funds have recently bought and sold shares of PNW. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in Pinnacle West Capital during the fourth quarter worth $35,000. Venturi Wealth Management LLC grew its holdings in Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after buying an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth $38,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the 3rd quarter worth $43,000. Institutional investors and hedge funds 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.