Pinnacle West Capital Co. (NYSE:PNW) Receives $85.21 Average Price Target from Brokerages

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has been given an average rating of "Hold" by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $86.58.

Several analysts have recently issued reports on PNW shares. Citigroup upped their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. KeyCorp upgraded shares of 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. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Barclays lowered Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Jefferies Financial Group dropped their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th.

Pinnacle West Capital Stock Up 1.8 %

Shares of PNW traded up $1.67 during trading hours on Tuesday, reaching $92.53. The stock had a trading volume of 938,189 shares, compared to its average volume of 1,026,291. The firm has a 50-day simple moving average of $86.80 and a 200 day simple moving average of $88.16. Pinnacle West Capital has a 12 month low of $67.51 and a 12 month high of $95.42. 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 has a market capitalization of $10.52 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 3.59 and a beta of 0.57.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Equities research analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a dividend of $0.895 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.87%. Pinnacle West Capital's payout ratio is 67.80%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in shares of Pinnacle West Capital by 9.7% in the third quarter. Creative Planning now owns 25,716 shares of the utilities provider's stock valued at $2,278,000 after acquiring an additional 2,272 shares during the period. Blue Trust Inc. boosted its holdings in Pinnacle West Capital by 193.5% in the 3rd quarter. Blue Trust Inc. now owns 1,080 shares of the utilities provider's stock valued at $96,000 after purchasing an additional 712 shares during the period. Raymond James & Associates grew its position in shares of Pinnacle West Capital by 30.3% during the 3rd quarter. Raymond James & Associates now owns 37,019 shares of the utilities provider's stock valued at $3,280,000 after purchasing an additional 8,618 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Pinnacle West Capital by 2.2% in the third quarter. Private Advisor Group LLC now owns 9,392 shares of the utilities provider's stock worth $832,000 after purchasing an additional 203 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Pinnacle West Capital by 152,118.2% in the third quarter. International Assets Investment Management LLC now owns 258,771 shares of the utilities provider's stock worth $22,925,000 after buying an additional 258,601 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

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.