Pinnacle West Capital (NYSE:PNW) Cut to “Sell” at StockNews.com

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

PNW has been the subject of a number of other research reports. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $83.50 in a research report on Thursday, June 6th. Evercore ISI dropped their price objective on shares of Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating on the stock in a report on Monday, March 4th. Royal Bank of Canada dropped their price objective on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, March 1st. 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 report on Monday, March 11th. Finally, Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $71.00 to $80.00 in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $75.71.

Pinnacle West Capital Stock Up 0.6 %

Pinnacle West Capital stock opened at $76.38 on Thursday. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.93 and a beta of 0.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. Pinnacle West Capital has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The firm has a fifty day moving average price of $76.22 and a two-hundred day moving average price of $72.93.

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

Institutional Trading of Pinnacle West Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNW. MeadowBrook Investment Advisors LLC bought a new stake in Pinnacle West Capital during the fourth quarter worth about $25,000. Financial Gravity Asset Management Inc. grew its stake in Pinnacle West Capital by 338.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after buying an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Pinnacle West Capital during the fourth quarter worth about $26,000. First United Bank & Trust bought a new stake in Pinnacle West Capital during the fourth quarter worth about $29,000. Finally, Cape Investment Advisory Inc. bought a new stake in Pinnacle West Capital during the first quarter worth about $30,000. 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.