Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of "Moderate Buy" from Brokerages

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve analysts that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $80.79.

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an "overweight" rating on the stock in a report on Tuesday, July 2nd. Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They issued a "buy" rating and a $104.00 target price for the company. Wells Fargo & Company upped their price target on Pinnacle West Capital from $87.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th.

Insiders Place Their Bets

In other news, EVP Robert Edgar Smith sold 4,950 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $85.80, for a total transaction of $424,710.00. Following the completion of the transaction, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company's stock.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empirical Finance LLC grew its holdings in shares of Pinnacle West Capital by 3.4% during the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider's stock worth $303,000 after purchasing an additional 134 shares in the last quarter. First Horizon Advisors Inc. grew its stake in 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 buying an additional 137 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Pinnacle West Capital by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider's stock worth $102,000 after buying an additional 138 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Pinnacle West Capital by 0.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider's stock valued at $1,659,000 after buying an additional 199 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Pinnacle West Capital by 2.2% during the 3rd quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider's stock worth $832,000 after acquiring an additional 203 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Up 0.8 %

Shares of NYSE:PNW opened at $88.12 on Wednesday. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $91.57. The company has a market capitalization of $10.01 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. The business has a fifty day moving average price of $88.05 and a two-hundred day moving average price of $81.46. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.45. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. Analysts forecast that Pinnacle West Capital will post 4.77 earnings per share for the current year.

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.