Pinnacle West Capital Co. (NYSE:PNW) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $95.65.

A number of analysts recently issued reports on the company. Guggenheim reissued a “buy” rating and set a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley reduced their price target on Pinnacle West Capital from $88.00 to $87.00 and set an “equal weight” rating for the company in a research report on Thursday, May 22nd. UBS Group upped their price target on Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Wall Street Zen downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, Barclays upped their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 1st.

Pinnacle West Capital Price Performance

NYSE PNW opened at $89.57 on Thursday. The business has a 50 day simple moving average of $92.29 and a 200 day simple moving average of $90.19. Pinnacle West Capital has a 52-week low of $74.45 and a 52-week high of $96.50. 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 stock has a market cap of $10.69 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. During the same period in the previous year, the company posted $0.15 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, May 5th. Pinnacle West Capital’s payout ratio is presently 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in the stock. Ellsworth Advisors LLC boosted its holdings in shares of Pinnacle West Capital by 4.6% in the 1st quarter. Ellsworth Advisors LLC now owns 21,691 shares of the utilities provider’s stock valued at $2,066,000 after buying an additional 960 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Pinnacle West Capital by 17.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,567 shares of the utilities provider’s stock valued at $149,000 after buying an additional 229 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at approximately $1,165,000. Integrity Alliance LLC. acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at approximately $284,000. Finally, Bayforest Capital Ltd boosted its holdings in shares of Pinnacle West Capital by 82.6% in the 1st quarter. Bayforest Capital Ltd now owns 935 shares of the utilities provider’s stock valued at $89,000 after buying an additional 423 shares during the last quarter. Institutional investors and hedge funds 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.