Pinnacle West Capital Co. (NYSE:PNW) Given Average Rating of “Hold” by Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have received an average rating of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $84.65.

Several brokerages have recently commented on PNW. Barclays lowered shares of 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 reduced their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock.

Pinnacle West Capital Price Performance

Shares of PNW opened at $81.75 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a market cap of $9.29 billion, a PE ratio of 15.48, a PEG ratio of 2.10 and a beta of 0.56. The firm’s 50 day moving average price is $88.52 and its 200 day moving average price is $86.70. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $95.42.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a yield of 4.38%. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNW. Fortem Financial Group LLC increased its stake in Pinnacle West Capital by 2.2% during the fourth quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC grew its holdings in shares of Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 138 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Pinnacle West Capital by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 163 shares during the period. LRI Investments LLC raised its stake in shares of Pinnacle West Capital by 7.0% in the third quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock valued at $227,000 after purchasing an additional 163 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Pinnacle West Capital by 2.6% in the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 169 shares in the last quarter. 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.