Guggenheim Reiterates “Buy” Rating for Pinnacle West Capital (NYSE:PNW)

Pinnacle West Capital (NYSE:PNW)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They currently have a $100.00 target price on the utilities provider’s stock. Guggenheim’s price target points to a potential upside of 8.29% from the company’s previous close.

Several other brokerages also recently issued reports on PNW. Morgan Stanley decreased their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.58.

Pinnacle West Capital Price Performance

NYSE:PNW traded down $0.82 during mid-day trading on Wednesday, reaching $92.34. The stock had a trading volume of 177,468 shares, compared to its average volume of 995,790. The stock has a market capitalization of $10.50 billion, a PE ratio of 17.52, a P/E/G ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital has a 12 month low of $66.77 and a 12 month high of $95.42. The stock has a 50-day simple moving average of $86.39 and a two-hundred day simple moving average of $88.07.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Canada Post Corp Registered Pension Plan bought a new stake in Pinnacle West Capital during the fourth quarter worth about $35,000. Venturi Wealth Management LLC grew its holdings in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 238 shares during the period. Brown Lisle Cummings Inc. bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $38,000. Finally, Roble Belko & Company Inc purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.