Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $95.17

Shares of Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) have been given an average rating of "Moderate Buy" by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $95.17.

PNW has been the subject of several recent analyst reports. Citigroup raised their price objective 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. Morgan Stanley upped their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $100.00 price target on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group increased their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Jefferies Financial Group lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th.

Pinnacle West Capital Stock Down 1.7 %

PNW traded down $1.55 on Friday, hitting $91.54. 1,153,703 shares of the company were exchanged, compared to its average volume of 986,723. The firm has a 50-day moving average price of $89.67 and a two-hundred day moving average price of $88.85. 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 twelve month low of $70.73 and a twelve month high of $95.42. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results 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. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. On average, equities analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Pinnacle West Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider's stock worth $1,202,116,000 after purchasing an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pinnacle West Capital by 0.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider's stock valued at $581,945,000 after buying an additional 37,768 shares in the last quarter. State Street Corp lifted its position in shares of Pinnacle West Capital by 0.9% during the 3rd 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. Invesco Ltd. boosted its stake in shares of Pinnacle West Capital by 32.2% during the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after acquiring an additional 1,045,788 shares in the last quarter. Finally, Zimmer Partners LP boosted its stake in shares of Pinnacle West Capital by 5.7% during the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock worth $256,882,000 after acquiring an additional 155,466 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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.