Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Price Target at $85.21

Shares of Pinnacle West Capital Co. (NYSE:PNW) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $87.13.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Jefferies Financial Group cut their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley cut their price target on shares of 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.

Institutional Investors Weigh In On Pinnacle West Capital

Hedge funds have recently added to or reduced their stakes in the stock. YANKCOM Partnership bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its stake 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 worth $38,000 after acquiring an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $38,000. Finally, Roble Belko & Company Inc bought a new position in Pinnacle West Capital during the 4th quarter worth approximately $42,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.8 %

Shares of NYSE:PNW opened at $92.53 on Tuesday. The company has a 50 day moving average of $86.96 and a 200-day moving average of $88.21. The firm has a market cap of $10.52 billion, a P/E ratio of 17.53, a P/E/G ratio of 3.59 and a beta of 0.57. Pinnacle West Capital has a twelve month low of $67.51 and a twelve month high of $95.42. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.06 billion. As a group, analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

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.