Jefferies Financial Group Cuts Pinnacle West Capital (NYSE:PNW) Price Target to $104.00

Pinnacle West Capital (NYSE:PNW) had its target price decreased by analysts at Jefferies Financial Group from $106.00 to $104.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 21.00% from the company’s current price.

Several other research firms also recently weighed in on PNW. Wells Fargo & Company lifted their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley cut 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. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average price target of $85.21.

Pinnacle West Capital Trading Down 0.6 %

PNW stock opened at $85.95 on Tuesday. The company has a market capitalization of $9.77 billion, a PE ratio of 16.28, a P/E/G ratio of 3.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $95.42. The firm’s 50-day moving average is $87.34 and its 200 day moving average is $87.44.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fortem Financial Group LLC increased its position in Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Pinnacle West Capital by 13.7% during the third quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 138 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC raised its position in shares of Pinnacle West Capital by 7.0% in the 3rd quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 163 shares during the last quarter. Finally, Caprock Group LLC boosted its stake in Pinnacle West Capital by 3.1% in the 4th quarter. Caprock Group LLC now owns 5,511 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors 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.