Pinnacle West Capital (NYSE:PNW) PT Raised to $62.00

Pinnacle West Capital (NYSE:PNW) had its target price upped by KeyCorp from $60.00 to $62.00 in a note issued to investors on Thursday, Analyst Price Targets reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. KeyCorp’s target price suggests a potential downside of 14.21% from the stock’s current price.

PNW has been the topic of several other research reports. Morgan Stanley boosted their target price on Pinnacle West Capital from $66.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 21st. TheStreet cut Pinnacle West Capital from a “b” rating to a “c+” rating in a research note on Monday, October 11th. Mizuho boosted their target price on Pinnacle West Capital from $65.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, October 8th. Wells Fargo & Company cut their target price on Pinnacle West Capital from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 7th. Finally, Wedbush boosted their target price on Pinnacle West Capital from $72.00 to $80.00 in a research note on Friday, January 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $75.87.

NYSE:PNW opened at $72.27 on Thursday. Pinnacle West Capital has a fifty-two week low of $62.78 and a fifty-two week high of $88.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.04 and a quick ratio of 0.81. The stock has a market capitalization of $8.15 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 3.59 and a beta of 0.29. The business’s 50-day simple moving average is $67.64 and its 200-day simple moving average is $73.76.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Friday, November 5th. The utilities provider reported $3.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.22. Pinnacle West Capital had a return on equity of 9.70% and a net margin of 15.26%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $3.07 EPS. Pinnacle West Capital’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that Pinnacle West Capital will post 5.3 earnings per share for the current year.

In related news, CEO James R. Hatfield sold 3,327 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $63.76, for a total transaction of $212,129.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Carroll Financial Associates Inc. grew its holdings in Pinnacle West Capital by 18,150.0% in the 4th quarter. Carroll Financial Associates Inc. now owns 365 shares of the utilities provider’s stock valued at $25,000 after buying an additional 363 shares in the last quarter. AGF Investments LLC acquired a new position in Pinnacle West Capital in the 3rd quarter valued at $31,000. Tobam acquired a new position in Pinnacle West Capital in the 2nd quarter valued at $38,000. Signaturefd LLC grew its holdings in Pinnacle West Capital by 48.5% in the 3rd quarter. Signaturefd LLC now owns 551 shares of the utilities provider’s stock valued at $40,000 after buying an additional 180 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in Pinnacle West Capital in the 3rd quarter valued at $54,000. 83.62% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle West Capital

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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