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

Pinnacle West Capital (NYSE:PNW) had its target price raised by UBS Group from $96.00 to $99.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

A number of other analysts have also commented on PNW. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley raised their price target on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday. KeyCorp raised 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. Wells Fargo & Company raised their price target 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. Finally, Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Stock Down 0.6 %

Shares of Pinnacle West Capital stock opened at $93.67 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital has a 52-week low of $70.73 and a 52-week high of $95.42. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.59 and a beta of 0.53. The company’s 50 day moving average price is $89.46 and its 200-day moving average price is $88.82.

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

Hedge Funds Weigh In On Pinnacle West Capital

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