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

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

A number of brokerages have recently commented on PNW. Wells Fargo & Company increased their price objective on Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, September 19th. They issued a "buy" rating and a $104.00 target price on the stock. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target for the company in a report on Wednesday, December 4th. Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley dropped their target price on shares of 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.

Pinnacle West Capital Stock Down 1.6 %

NYSE PNW traded down $1.34 during trading on Monday, reaching $82.91. The company's stock had a trading volume of 1,636,583 shares, compared to its average volume of 1,088,494. The stock has a market capitalization of $9.43 billion, a PE ratio of 15.70, a PEG ratio of 2.10 and a beta of 0.56. The business has a 50-day moving average price of $88.86 and a 200-day moving average price of $86.48. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 annualized dividend and a dividend yield of 4.32%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 67.80%.

Institutional Trading of Pinnacle West Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Pinnacle West Capital by 24.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider's stock worth $533,562,000 after buying an additional 1,379,368 shares during the last quarter. State Street Corp grew its holdings in Pinnacle West Capital by 0.9% during the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after purchasing an additional 56,644 shares during the period. Zimmer Partners LP increased 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 purchasing an additional 155,466 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pinnacle West Capital by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider's stock worth $91,078,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of Pinnacle West Capital by 2.0% in the 3rd quarter. Empower Advisory Group LLC now owns 973,357 shares of the utilities provider's stock valued at $86,230,000 after buying an additional 18,673 shares during the period. 91.51% of the stock is owned by institutional investors.

About Pinnacle West Capital

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.