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

Pinnacle West Capital Co. (NYSE:PNW) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $88.77.

Several research analysts have commented on the company. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup boosted 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.

Institutional Trading of Pinnacle West Capital

Several institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $1,453,000. Mackenzie Financial Corp boosted its holdings in Pinnacle West Capital by 301.6% in the fourth quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider’s stock valued at $1,453,000 after acquiring an additional 12,874 shares during the last quarter. GTS Securities LLC boosted its holdings in Pinnacle West Capital by 272.2% in the fourth quarter. GTS Securities LLC now owns 10,273 shares of the utilities provider’s stock valued at $871,000 after acquiring an additional 7,513 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pinnacle West Capital by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,408 shares of the utilities provider’s stock valued at $26,568,000 after acquiring an additional 25,753 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Pinnacle West Capital by 19.5% in the fourth quarter. Voloridge Investment Management LLC now owns 968,894 shares of the utilities provider’s stock valued at $82,133,000 after acquiring an additional 158,266 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Up 1.8 %

PNW stock opened at $94.22 on Tuesday. The company has a market cap of $11.22 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The business has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $88.30. Pinnacle West Capital has a 52 week low of $67.69 and a 52 week high of $95.42. 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 (NYSE:PNW) last posted 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. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Sell-side analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd were issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 68.58%.

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.