Morgan Stanley Forecasts Strong Price Appreciation for Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its price objective lifted by analysts at Morgan Stanley from $84.00 to $88.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target points to a potential downside of 5.39% from the company's previous close.

Several other research firms have also weighed in on PNW. KeyCorp upgraded Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price target on the stock in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup lifted their price target 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. Jefferies Financial Group reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $95.17.

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Pinnacle West Capital Price Performance

PNW stock traded down $0.75 during trading on Thursday, hitting $93.01. 1,169,345 shares of the company's stock traded hands, compared to its average volume of 986,892. Pinnacle West Capital has a 52 week low of $70.73 and a 52 week high of $95.42. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 3.59 and a beta of 0.53. The business has a fifty day simple moving average of $89.67 and a 200 day simple moving average of $88.85. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

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

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan purchased a new stake in Pinnacle West Capital during the fourth quarter valued at approximately $35,000. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $38,000. Roble Belko & Company Inc purchased a new position in Pinnacle West Capital in the fourth quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at $43,000. 91.51% of the stock is owned by institutional investors.

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.