Pinnacle West Capital (NYSE:PNW) Sets New 1-Year High - Here's Why

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $95.75 and last traded at $95.16, with a volume of 54390 shares. The stock had previously closed at $94.17.

Analyst Upgrades and Downgrades

PNW has been the topic of several recent research reports. Citigroup increased their target price on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a 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. Barclays lifted their price objective on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday. Jefferies Financial Group lowered their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group lifted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $95.50.

Pinnacle West Capital Trading Up 0.2 %

The firm has a market capitalization of $11.37 billion, a PE ratio of 18.08, a PEG ratio of 3.59 and a beta of 0.53. The business has a fifty day moving average price of $90.60 and a two-hundred day moving average price of $89.04. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. Analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the business. YANKCOM Partnership purchased a new stake in Pinnacle West Capital in the fourth quarter valued at $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $35,000. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $38,000. Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital during the 4th quarter worth $42,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

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.