Pinnacle West Capital Co. (NYSE:PNW) Receives $80.96 Consensus Target Price from Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve research firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $80.96.

A number of analysts have weighed in on PNW shares. Morgan Stanley upped their target price on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective on the stock. StockNews.com raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th.

Pinnacle West Capital Stock Up 1.1 %

Shares of PNW traded up $1.02 during mid-day trading on Friday, hitting $91.88. The company's stock had a trading volume of 3,587,423 shares, compared to its average volume of 1,508,336. 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 company's 50-day moving average is $88.75 and its 200-day moving average is $83.38. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $93.12. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.15 and a beta of 0.52.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 dividend on an annualized basis and a yield of 3.90%. This is a boost from Pinnacle West Capital's previous quarterly dividend of $0.88. Pinnacle West Capital's payout ratio is currently 67.80%.

Institutional Investors Weigh In On Pinnacle West Capital

Large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Pinnacle West Capital by 377.9% during the 2nd quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock worth $28,000 after purchasing an additional 291 shares during the period. Cape Investment Advisory Inc. acquired a new stake in Pinnacle West Capital during the first quarter worth about $30,000. Venturi Wealth Management LLC raised its position in Pinnacle West Capital by 124.6% during 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 in the last quarter. Prospera Private Wealth LLC acquired a new position in Pinnacle West Capital in the third quarter valued at approximately $43,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $52,000. 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.