StockNews.com Downgrades Pinnacle West Capital (NYSE:PNW) to Sell

Pinnacle West Capital (NYSE:PNW) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other research firms also recently weighed in on PNW. Wells Fargo & Company raised their price target on Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $76.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Barclays cut their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $71.00 in a research note on Monday, March 11th. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $74.00 to $83.50 in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.46.

Pinnacle West Capital Stock Up 1.3 %

NYSE:PNW opened at $78.46 on Tuesday. The stock has a 50-day moving average price of $76.54 and a two-hundred day moving average price of $73.11. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.95 and a beta of 0.51. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $86.03.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. The firm had revenue of $951.71 million for the quarter, compared to analyst estimates of $981.82 million. During the same period in the previous year, the business earned ($0.03) EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts expect that Pinnacle West Capital will post 4.76 earnings per share for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

A number of large investors have recently added to or reduced their stakes in PNW. Empirical Finance LLC lifted its position in shares of Pinnacle West Capital by 3.4% during the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 134 shares during the period. MCF Advisors LLC raised its stake in Pinnacle West Capital by 9.2% in the fourth quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 174 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in Pinnacle West Capital by 70.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 199 shares during the period. Atria Wealth Solutions Inc. grew its stake 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 in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in Pinnacle West Capital by 6.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock valued at $293,000 after buying an additional 233 shares during the period. 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.