UBS Group Issues Positive Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW) had its price target lifted by analysts at UBS Group from $96.00 to $99.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective suggests a potential upside of 5.80% from the stock’s previous close.

Several other research firms also recently weighed in on PNW. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target for the company in a research note on Wednesday, December 4th. 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 report on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company increased their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citigroup increased their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Price Performance

PNW stock traded down $0.63 during midday trading on Friday, hitting $93.57. The company’s stock had a trading volume of 312,473 shares, compared to its average volume of 977,140. Pinnacle West Capital has a 12 month low of $70.73 and a 12 month 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. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The company has a 50 day moving average of $89.22 and a two-hundred day moving average of $88.77.

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

Institutional Trading of Pinnacle West Capital

Institutional investors have recently bought and sold shares of the stock. YANKCOM Partnership bought a new stake in Pinnacle West Capital in the fourth quarter worth $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in Pinnacle West Capital in the fourth quarter worth $35,000. Brown Lisle Cummings Inc. purchased a new stake in Pinnacle West Capital in the fourth quarter worth $38,000. Roble Belko & Company Inc purchased a new stake in Pinnacle West Capital in the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in Pinnacle West Capital in the third quarter worth $43,000. 91.51% of the stock is currently owned by 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.