Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $84.65

Shares of Pinnacle West Capital Co. (NYSE:PNW) have received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $84.65.

PNW has been the topic of several recent analyst reports. KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Citigroup boosted their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley reduced their price target on 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. Finally, Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th.

Pinnacle West Capital Stock Up 0.3 %

Shares of PNW opened at $83.41 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The business has a fifty day moving average of $88.78 and a 200 day moving average of $86.54. The company has a market cap of $9.48 billion, a PE ratio of 15.80, a P/E/G ratio of 2.10 and a beta of 0.56. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $95.42.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors have recently bought and sold shares of PNW. Venturi Wealth Management LLC boosted its position in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 238 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter worth $43,000. Ashton Thomas Private Wealth LLC bought a new stake in Pinnacle West Capital during the second quarter valued at about $52,000. Kennebec Savings Bank purchased a new position in Pinnacle West Capital in the third quarter valued at about $64,000. Finally, Blue Trust Inc. raised its holdings in Pinnacle West Capital by 193.5% in the third quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 712 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.