Pinnacle West Capital (NYSE:PNW - Get Free Report) was upgraded by research analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a report released on Monday,Zacks.com reports.
Other research analysts also recently issued reports about the company. KeyCorp raised Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Guggenheim restated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Barclays downgraded Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Morgan Stanley decreased their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.17.
View Our Latest Research Report on PNW
Pinnacle West Capital Price Performance
NYSE:PNW traded down $0.53 during mid-day trading on Monday, hitting $93.67. The company's stock had a trading volume of 2,078,626 shares, compared to its average volume of 986,160. Pinnacle West Capital has a fifty-two week low of $70.73 and a fifty-two week high of $95.42. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average of $89.46 and a 200-day moving average of $88.82.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of PNW. Mesirow Financial Investment Management Inc. boosted its position in Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock worth $1,163,000 after purchasing an additional 116 shares in the last quarter. Norinchukin Bank The raised its holdings in Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock worth $373,000 after purchasing an additional 117 shares in the last quarter. Fortem Financial Group LLC grew its holdings in shares of Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider's stock valued at $485,000 after acquiring an additional 124 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Pinnacle West Capital by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock valued at $1,264,000 after buying an additional 127 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Pinnacle West Capital by 10.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider's stock valued at $135,000 after buying an additional 156 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.
About Pinnacle West Capital
(
Get Free Report)
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.
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