Pinnacle West Capital Co. (NYSE:PNW) Receives Consensus Rating of “Hold” from Analysts

Pinnacle West Capital Co. (NYSE:PNW) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $84.65.

Several equities research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 target price for the company. Barclays downgraded Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Citigroup upped their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $84.03 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $89.59 and a two-hundred day simple moving average of $85.64. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $95.42. The firm has a market capitalization of $9.55 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.10 and a beta of 0.54.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in PNW. Blue Trust Inc. increased its holdings in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after buying an additional 291 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Pinnacle West Capital by 124.6% in the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 238 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Pinnacle West Capital during the 3rd quarter valued at approximately $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital during the 2nd quarter worth approximately $52,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 137 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.