Pinnacle West Capital (NYSE:PNW) Price Target Raised to $95.00

Pinnacle West Capital (NYSE:PNW) had its target price raised by equities researchers at Wells Fargo & Company from $92.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.88% from the stock’s previous close.

Several other research firms also recently commented on PNW. Citigroup lifted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley decreased their price objective on shares of 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 cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, KeyCorp upgraded shares of 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $85.46.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $92.34 on Wednesday. The stock has a market cap of $10.50 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. 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 has a fifty-two week low of $66.77 and a fifty-two week high of $95.42. The firm’s fifty day moving average price is $86.39 and its 200-day moving average price is $88.07.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. On average, equities research analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Pinnacle West Capital by 193.5% during the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 712 shares during the last quarter. Raymond James & Associates boosted its position in shares of Pinnacle West Capital by 30.3% during the 3rd quarter. Raymond James & Associates now owns 37,019 shares of the utilities provider’s stock valued at $3,280,000 after acquiring an additional 8,618 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Pinnacle West Capital by 2.2% in the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider’s stock valued at $832,000 after purchasing an additional 203 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Pinnacle West Capital by 59.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,958 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 2,977 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Pinnacle West Capital by 8.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,592 shares of the utilities provider’s stock valued at $2,090,000 after purchasing an additional 1,868 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.