Pinnacle West Capital (NYSE:PNW) Price Target Raised to $88.00 at Morgan Stanley

Pinnacle West Capital (NYSE:PNW) had its target price lifted by Morgan Stanley from $84.00 to $88.00 in a research report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts also recently commented on the stock. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and set a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Wells Fargo & Company upped their price objective 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. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research note on Monday. Finally, Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.69.

Pinnacle West Capital Price Performance

NYSE PNW opened at $94.25 on Thursday. The business’s fifty day moving average is $89.22 and its 200 day moving average is $88.77. Pinnacle West Capital has a fifty-two week low of $70.73 and a fifty-two week high of $95.42. 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 company has a market capitalization of $11.23 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations 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 predict that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $29,000. Canada Post Corp Registered Pension Plan bought a new position in Pinnacle West Capital during the fourth quarter valued at $35,000. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital in the 4th quarter worth $38,000. Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital in the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc purchased a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors 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.