Barclays Increases Pinnacle West Capital (NYSE:PNW) Price Target to $76.00

Pinnacle West Capital (NYSE:PNW) had its price target increased by Barclays from $75.00 to $76.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other analysts have also issued reports about the stock. Mizuho cut their target price on shares of Pinnacle West Capital from $77.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, March 6th. Evercore ISI cut their target price on shares of Pinnacle West Capital from $76.00 to $69.00 and set an in-line rating for the company in a research note on Monday, March 4th. UBS Group raised shares of Pinnacle West Capital from a sell rating to a neutral rating and increased their target price for the company from $68.00 to $71.00 in a research note on Monday, March 11th. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Finally, StockNews.com lowered shares of Pinnacle West Capital from a hold rating to a sell rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $73.00.

Pinnacle West Capital Stock Up 1.4 %

PNW stock opened at $72.95 on Monday. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $86.03. The firm has a market cap of $8.28 billion, a PE ratio of 16.55, a P/E/G ratio of 2.00 and a beta of 0.49. The firm has a 50 day simple moving average of $70.93 and a 200 day simple moving average of $72.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.50.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.83%. Pinnacle West Capital’s dividend payout ratio is presently 79.82%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PNW. MeadowBrook Investment Advisors LLC acquired a new position in Pinnacle West Capital in the 4th quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. increased its stake in shares of Pinnacle West Capital by 338.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth $26,000. Tobam increased its stake in shares of Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 393 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth $29,000. Institutional investors and hedge funds 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.