Pinnacle West Capital (NYSE:PNW) Price Target Raised to $76.00

Pinnacle West Capital (NYSE:PNW) had its target price increased by Barclays from $75.00 to $76.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

PNW has been the topic of several other research reports. Evercore ISI cut their price target on Pinnacle West Capital from $76.00 to $69.00 and set an in-line rating on the stock in a report on Monday, March 4th. Bank of America raised shares of Pinnacle West Capital from a neutral rating to a buy rating and raised their target price for the company from $71.00 to $80.00 in a report on Monday, March 18th. Guggenheim upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and set a $78.00 price target for the company in a report on Monday, January 22nd. Royal Bank of Canada reduced their price objective on shares of Pinnacle West Capital from $83.00 to $80.00 and set a sector perform rating on the stock in a report on Friday, March 1st. Finally, LADENBURG THALM/SH SH began coverage on shares of Pinnacle West Capital in a research note on Wednesday, February 14th. They set a neutral rating and a $69.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $73.00.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $72.11 on Monday. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $86.03. The company has a fifty day simple moving average of $70.77 and a two-hundred day simple moving average of $72.06. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49.

Hedge Funds Weigh In On Pinnacle West Capital

Several large investors have recently bought and sold shares of PNW. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at about $25,000. Financial Gravity Asset Management Inc. lifted its stake in Pinnacle West Capital by 338.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after buying an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $26,000. Tobam boosted its holdings in shares of Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 393 shares during the period. Finally, First United Bank & Trust purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds 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.