Pinnacle West Capital Co. (NYSE:PNW) Receives $85.21 Average Price Target from Brokerages

Pinnacle West Capital Co. (NYSE:PNW) has been given a consensus recommendation of “Hold” by the twelve analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $85.21.

Several equities research analysts recently weighed in on the stock. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company raised 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 report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PNW. Millennium Management LLC lifted its stake in shares of Pinnacle West Capital by 75.3% during the 2nd quarter. Millennium Management LLC now owns 237,744 shares of the utilities provider’s stock valued at $18,159,000 after buying an additional 102,134 shares in the last quarter. Creative Planning lifted its stake in shares of Pinnacle West Capital by 36.9% during the 2nd quarter. Creative Planning now owns 23,444 shares of the utilities provider’s stock valued at $1,791,000 after buying an additional 6,322 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Pinnacle West Capital by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,325 shares of the utilities provider’s stock valued at $483,000 after buying an additional 440 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $372,000. Finally, Czech National Bank lifted its stake in shares of Pinnacle West Capital by 6.9% during the 3rd quarter. Czech National Bank now owns 23,133 shares of the utilities provider’s stock valued at $2,049,000 after buying an additional 1,494 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW stock opened at $86.94 on Friday. The firm has a 50 day moving average price of $87.09 and a 200-day moving average price of $87.57. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $95.42. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 3.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

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.