Pinnacle West Capital (NYSE:PNW) Stock Rating Upgraded by StockNews.com

Pinnacle West Capital (NYSE:PNW) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Other equities analysts have also recently issued reports about the company. KeyCorp upgraded Pinnacle West Capital from an “underweight” rating to a “sector weight” rating in a report on Thursday, October 5th. Bank of America cut their target price on Pinnacle West Capital from $78.00 to $69.00 in a report on Monday, October 9th. Wells Fargo & Company cut their target price on Pinnacle West Capital from $89.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Barclays lowered their price target on Pinnacle West Capital from $81.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, September 28th. Finally, Morgan Stanley lowered their price target on Pinnacle West Capital from $75.00 to $71.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $76.70.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $70.46 on Friday. Pinnacle West Capital has a 52-week low of $69.56 and a 52-week high of $86.03. The stock’s 50 day moving average price is $74.90 and its two-hundred day moving average price is $78.30. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.85 and a current ratio of 1.10. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.84 and a beta of 0.52.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in PNW. Vanguard Group Inc. increased its holdings in Pinnacle West Capital by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 13,338,202 shares of the utilities provider’s stock worth $1,041,714,000 after acquiring an additional 241,019 shares during the last quarter. BlackRock Inc. increased its holdings in Pinnacle West Capital by 2.7% in the 1st quarter. BlackRock Inc. now owns 10,307,741 shares of the utilities provider’s stock worth $816,785,000 after acquiring an additional 273,945 shares during the last quarter. State Street Corp increased its holdings in Pinnacle West Capital by 1.0% in the 3rd quarter. State Street Corp now owns 7,634,622 shares of the utilities provider’s stock worth $492,509,000 after acquiring an additional 74,164 shares during the last quarter. Invesco Ltd. increased its holdings in Pinnacle West Capital by 29.6% in the 1st quarter. Invesco Ltd. now owns 3,537,942 shares of the utilities provider’s stock worth $276,313,000 after acquiring an additional 808,207 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Pinnacle West Capital by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,574,336 shares of the utilities provider’s stock worth $209,414,000 after acquiring an additional 84,844 shares during the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle West Capital

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.