UBS Group Issues Positive Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its target price upped by investment analysts at UBS Group from $96.00 to $99.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. UBS Group's price target would suggest a potential upside of 5.77% from the company's current price.

Several other research analysts have also commented on PNW. KeyCorp upgraded shares of Pinnacle West Capital from a "sector weight" rating to an "overweight" rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Citigroup upped their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an "equal weight" rating in a research note on Thursday. Six investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.17.

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Pinnacle West Capital Trading Down 0.2 %

Shares of Pinnacle West Capital stock traded down $0.16 during trading on Friday, reaching $93.60. 388,424 shares of the stock were exchanged, compared to its average volume of 1,060,962. Pinnacle West Capital has a 1 year low of $70.72 and a 1 year high of $95.42. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.59 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The stock's fifty day moving average is $89.46 and its 200 day moving average is $88.82.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 111 Capital purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $340,000. Wealth Enhancement Advisory Services LLC boosted its stake in Pinnacle West Capital by 26.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider's stock worth $2,524,000 after purchasing an additional 6,183 shares in the last quarter. Probity Advisors Inc. grew its position in Pinnacle West Capital by 2.7% during the 4th quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider's stock valued at $513,000 after purchasing an additional 159 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Pinnacle West Capital during the 4th quarter valued at about $1,453,000. Finally, Mackenzie Financial Corp raised its holdings in Pinnacle West Capital by 301.6% in the fourth quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider's stock worth $1,453,000 after buying an additional 12,874 shares during the last quarter. 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.