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

Shares of Pinnacle West Capital Corporation (NYSE:PNW) have been given an average recommendation of “Hold” by the fifteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $96.4167.

Several research firms have weighed in on PNW. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. UBS Group increased their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Zacks Research upgraded shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Barclays reduced their target price on shares of Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $99.00 price target on shares of Pinnacle West Capital in a research note on Monday, October 20th.

Hedge Funds Weigh In On Pinnacle West Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of Pinnacle West Capital by 5.0% during the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after acquiring an additional 758,190 shares during the period. Vanguard Group Inc. boosted its stake in Pinnacle West Capital by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock worth $1,322,482,000 after purchasing an additional 316,629 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Pinnacle West Capital by 8.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after acquiring an additional 568,581 shares during the last quarter. Invesco Ltd. grew its position in shares of Pinnacle West Capital by 2.5% during the second quarter. Invesco Ltd. now owns 4,248,954 shares of the utilities provider’s stock valued at $380,154,000 after purchasing an additional 102,778 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Pinnacle West Capital by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after acquiring an additional 27,861 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Trading Down 0.4%

Shares of PNW opened at $93.12 on Tuesday. Pinnacle West Capital has a fifty-two week low of $85.32 and a fifty-two week high of $96.50. The business has a 50-day moving average of $90.18 and a 200 day moving average of $90.01. The firm has a market cap of $11.15 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 5.60 and a beta of 0.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.49 and a current ratio of 0.67.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 3.9%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 74.74%.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.