Pinnacle West Capital Corporation (NYSE:PNW) Given Consensus Recommendation of “Hold” by Analysts

Pinnacle West Capital Corporation (NYSE:PNW) has earned an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $96.0909.

Several analysts have recently commented on the company. Argus decreased their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Morgan Stanley decreased their target price on Pinnacle West Capital from $89.00 to $87.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. UBS Group decreased their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Saturday, September 27th. Finally, Barclays increased their price objective on Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,496 shares of Pinnacle West Capital stock in a transaction on Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the sale, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. This trade represents a 99.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Institutional Trading of Pinnacle West Capital

A number of institutional investors have recently bought and sold shares of PNW. Clearstead Trust LLC acquired a new stake in Pinnacle West Capital during the first quarter valued at $25,000. Costello Asset Management INC acquired a new stake in Pinnacle West Capital during the first quarter valued at $26,000. Caldwell Trust Co acquired a new stake in Pinnacle West Capital during the second quarter valued at $27,000. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital during the second quarter valued at $27,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Pinnacle West Capital during the second quarter valued at $31,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $91.90 on Wednesday. The stock has a market cap of $10.98 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 9.38 and a beta of 0.46. The business has a fifty day simple moving average of $89.55 and a 200-day simple moving average of $90.80. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25. Pinnacle West Capital has a 12 month low of $81.47 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.58 EPS for the quarter, hitting the consensus estimate of $1.58. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.Pinnacle West Capital’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. On average, sell-side analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

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.