Pinnacle West Capital Co. (NYSE:PNW) Given Average Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Pinnacle West Capital Co. (NYSE:PNW – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $80.54.

PNW has been the topic of several analyst reports. Barclays lowered their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th.

Get Our Latest Report on PNW

Pinnacle West Capital Trading Down 1.7 %

Shares of PNW opened at $87.98 on Friday. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $91.57. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.30 and a beta of 0.52. The stock’s 50-day moving average price is $87.82 and its 200 day moving average price is $80.22.

Pinnacle West Capital (NYSE:PNW – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.45. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, research analysts predict that Pinnacle West Capital will post 4.77 earnings per share for the current year.

Insider Transactions at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the transaction, the executive vice president now directly owns 6,397 shares of the company’s stock, valued at $548,862.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Empirical Finance LLC lifted its holdings in Pinnacle West Capital by 3.4% during the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after buying an additional 134 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after buying an additional 137 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Pinnacle West Capital by 70.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after buying an additional 199 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Pinnacle West Capital by 0.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock worth $1,659,000 after buying an additional 199 shares in the last quarter. Finally, SFE Investment Counsel raised its position in shares of Pinnacle West Capital by 1.3% during the 2nd quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock valued at $1,408,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

About Pinnacle West Capital

(Get Free Report

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.

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