Pinnacle West Capital (NYSE:PNW) Stock Price Expected to Rise, Barclays Analyst Says

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its price objective upped by equities research analysts at Barclays from $87.00 to $94.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's target price would indicate a potential upside of 3.13% from the stock's previous close.

A number of other equities analysts also recently weighed in on PNW. Jefferies Financial Group lowered their target price 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, January 28th. KeyCorp raised 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 report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. Finally, Citigroup boosted their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.50.

Pinnacle West Capital Trading Down 4.3 %

Shares of PNW stock traded down $4.06 during trading hours on Tuesday, hitting $91.15. 1,787,373 shares of the company's stock traded hands, compared to its average volume of 1,063,375. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 12 month low of $70.73 and a 12 month high of $96.50. The stock has a market cap of $10.86 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The stock's 50 day simple moving average is $91.09 and its 200 day simple moving average is $89.12.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. On average, sell-side analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in 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 valued at $1,202,116,000 after acquiring an additional 143,716 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted 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 purchasing an additional 37,768 shares in the last quarter. State Street Corp boosted its position in shares of 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 buying an additional 56,644 shares during the last quarter. Invesco Ltd. grew its holdings in Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock worth $364,342,000 after buying an additional 1,045,788 shares in the last quarter. Finally, Zimmer Partners LP raised its position in Pinnacle West Capital by 5.7% in the 3rd quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock valued at $256,882,000 after buying an additional 155,466 shares during the last quarter. 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.