KeyCorp Increases Pinnacle West Capital (NYSE:PNW) Price Target to $64.00

Pinnacle West Capital (NYSE:PNWGet Rating) had its price target lifted by stock analysts at KeyCorp from $62.00 to $64.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. KeyCorp’s target price indicates a potential downside of 17.76% from the company’s previous close.

PNW has been the topic of a number of other research reports. Evercore ISI cut Pinnacle West Capital from an “in-line” rating to an “underperform” rating and set a $68.00 price target for the company. in a research note on Friday, March 11th. StockNews.com assumed coverage on shares of Pinnacle West Capital in a research report on Thursday, March 31st. They set a “hold” rating for the company. Royal Bank of Canada boosted their price target on shares of Pinnacle West Capital from $76.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Monday, April 4th. Argus lifted their target price on shares of Pinnacle West Capital from $72.00 to $80.00 in a research note on Thursday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $68.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, February 28th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $74.32.

NYSE:PNW opened at $77.82 on Wednesday. Pinnacle West Capital has a one year low of $62.78 and a one year high of $88.54. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market cap of $8.79 billion, a PE ratio of 14.23 and a beta of 0.28. The firm’s 50 day simple moving average is $73.91 and its 200 day simple moving average is $70.36.

Pinnacle West Capital (NYSE:PNWGet Rating) last released its quarterly earnings results on Friday, February 25th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.17. Pinnacle West Capital had a net margin of 16.27% and a return on equity of 10.38%. The firm had revenue of $798.90 million during the quarter, compared to the consensus estimate of $659.68 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that Pinnacle West Capital will post 3.96 EPS for the current year.

Several large investors have recently modified their holdings of the company. Carroll Financial Associates Inc. increased its position in shares of Pinnacle West Capital by 18,150.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 365 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 363 shares in the last quarter. National Bank of Canada FI acquired a new position in Pinnacle West Capital during the 4th quarter valued at about $25,000. Carolinas Wealth Consulting LLC increased its holdings in Pinnacle West Capital by 9,200.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 368 shares in the last quarter. City State Bank purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth approximately $26,000. Finally, Retirement Group LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $28,000. 80.03% of the stock is currently owned by institutional investors.

Pinnacle West Capital Company Profile (Get Rating)

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, 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.

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