Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $95.17

Pinnacle West Capital Co. (NYSE:PNW) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $95.17.

Several brokerages have weighed in on PNW. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley boosted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. UBS Group raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Finally, KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Pinnacle West Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. increased its holdings in Pinnacle West Capital by 0.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 116 shares during the period. Norinchukin Bank The increased its stake in shares of Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider’s stock valued at $373,000 after buying an additional 117 shares during the period. Fortem Financial Group LLC raised its holdings in shares of Pinnacle West Capital by 2.2% in the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares in the last quarter. New York Life Investment Management LLC lifted its stake in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after acquiring an additional 127 shares during the period. Finally, Global Retirement Partners LLC increased its position in Pinnacle West Capital by 10.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 156 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 1.5 %

Shares of PNW opened at $92.90 on Friday. 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 stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. Pinnacle West Capital has a 1 year low of $70.73 and a 1 year high of $95.42. The business’s 50 day simple moving average is $90.00 and its 200-day simple moving average is $88.91.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

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.