LADENBURG THALM/SH SH Upgrades Pinnacle West Capital (NYSE:PNW) to Hold

Pinnacle West Capital (NYSE:PNW - Get Free Report) was upgraded by investment analysts at LADENBURG THALM/SH SH to a "hold" rating in a research report issued on Tuesday, April 22nd,Zacks.com reports.

Several other equities research analysts have also recently weighed in on PNW. Jefferies Financial Group reduced 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. Wells Fargo & Company lifted 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 report on Wednesday, February 26th. Barclays raised their price objective on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 1st. UBS Group raised their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Guggenheim reiterated a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of "Hold" and an average target price of $95.50.

Pinnacle West Capital Trading Up 0.5 %

Shares of NYSE PNW traded up $0.48 during mid-day trading on Tuesday, hitting $95.07. The stock had a trading volume of 220,619 shares, compared to its average volume of 1,156,684. The firm has a market cap of $11.33 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The business has a 50 day moving average price of $92.72 and a two-hundred day moving average price of $89.64. Pinnacle West Capital has a 1 year low of $72.78 and a 1 year high of $96.50.

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

Hedge Funds Weigh In On Pinnacle West Capital

Several large investors have recently added to or reduced their stakes in PNW. Norges Bank bought a new position in shares of Pinnacle West Capital in the fourth quarter worth about $194,655,000. Invesco Ltd. grew its stake in shares of Pinnacle West Capital by 32.2% during the fourth quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after buying an additional 1,045,788 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Pinnacle West Capital in the fourth quarter worth $69,233,000. Two Sigma Advisers LP lifted its holdings in Pinnacle West Capital by 462.8% during the 4th quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider's stock valued at $77,387,000 after buying an additional 750,700 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Pinnacle West Capital by 33.4% in the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock valued at $206,420,000 after purchasing an additional 610,042 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

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.