Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of “Hold” from Analysts

Pinnacle West Capital Co. (NYSE:PNW) has earned an average rating of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $84.65.

PNW has been the topic of a number of recent analyst reports. Morgan Stanley lowered 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. Jefferies Financial Group began coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th.

Pinnacle West Capital Stock Down 2.2 %

Pinnacle West Capital stock opened at $81.75 on Monday. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $95.42. The business has a fifty day moving average of $88.52 and a two-hundred day moving average of $86.54. The firm has a market cap of $9.29 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.10 and a beta of 0.56. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 4.38%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. grew its position in shares of Pinnacle West Capital by 19.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,145 shares of the utilities provider’s stock valued at $97,000 after acquiring an additional 183 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Pinnacle West Capital by 140.7% during the fourth quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock valued at $250,000 after acquiring an additional 1,722 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Pinnacle West Capital by 17.3% in the fourth quarter. CWA Asset Management Group LLC now owns 15,467 shares of the utilities provider’s stock worth $1,311,000 after buying an additional 2,284 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $234,000. Hedge funds and other 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.