Pinnacle West Capital Co. (NYSE:PNW) Receives Consensus Recommendation of "Hold" from Brokerages

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has been assigned a consensus rating of "Hold" from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $84.65.

Several analysts have issued reports on the stock. Barclays lowered shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Citigroup upped their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Morgan Stanley cut their price target on shares of Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective on the stock.

Hedge Funds Weigh In On Pinnacle West Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Pinnacle West Capital by 24.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider's stock valued at $533,562,000 after acquiring an additional 1,379,368 shares during the last quarter. State Street Corp boosted its stake in Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after acquiring an additional 56,644 shares during the last quarter. Zimmer Partners LP boosted its stake in Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock valued at $256,882,000 after acquiring an additional 155,466 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Pinnacle West Capital by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 1,159,942 shares of the utilities provider's stock valued at $88,596,000 after acquiring an additional 44,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider's stock valued at $91,078,000 after acquiring an additional 5,066 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW traded down $0.18 during mid-day trading on Thursday, hitting $88.71. The company's stock had a trading volume of 967,932 shares, compared to its average volume of 1,158,209. Pinnacle West Capital has a one year low of $65.20 and a one year high of $95.42. The stock's 50-day moving average is $89.68 and its two-hundred day moving average is $85.33. The firm has a market capitalization of $10.09 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54. 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 Dividend Announcement

The firm also recently declared 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 4.04%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital's dividend payout ratio is 67.80%.

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.