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

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve analysts that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $85.21.

Several equities analysts have issued reports on PNW shares. Jefferies Financial Group decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company upped their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a research report on Thursday, November 7th. Citigroup lifted their price target 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. Barclays downgraded Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Morgan Stanley cut 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 report on Friday, November 22nd.

Pinnacle West Capital Stock Down 0.2 %

Shares of Pinnacle West Capital stock traded down $0.19 during trading hours on Friday, hitting $86.94. The company had a trading volume of 1,137,013 shares, compared to its average volume of 1,081,156. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company's 50-day moving average is $87.09 and its two-hundred day moving average is $87.48. The company has a market cap of $9.89 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 3.40 and a beta of 0.56. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $95.42.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a yield of 4.12%. Pinnacle West Capital's payout ratio is currently 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently modified their holdings of the business. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC boosted its position in shares of Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider's stock worth $38,000 after purchasing an additional 238 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth $38,000. Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $42,000. 91.51% of the stock is owned by hedge funds and other 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.