Pinnacle West Capital (NYSE:PNW) PT Lowered to $76.00

Pinnacle West Capital (NYSE:PNWGet Rating) had its price target lowered by Morgan Stanley from $77.00 to $76.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Other equities analysts have also issued reports about the stock. TheStreet raised shares of Pinnacle West Capital from a c+ rating to a b rating in a research report on Thursday, August 18th. UBS Group reduced their target price on shares of Pinnacle West Capital from $74.00 to $67.00 and set a sell rating on the stock in a research report on Thursday, June 30th. Barclays reduced their target price on shares of Pinnacle West Capital from $78.00 to $68.00 and set an underweight rating on the stock in a research report on Monday, July 18th. Credit Suisse Group raised their target price on shares of Pinnacle West Capital to $69.00 in a research report on Tuesday, August 9th. Finally, Mizuho raised their target price on shares of Pinnacle West Capital from $76.00 to $77.00 and gave the stock a neutral rating in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of Hold and an average price target of $71.83.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $72.70 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.69. Pinnacle West Capital has a 1-year low of $62.78 and a 1-year high of $80.51. The firm has a market capitalization of $8.22 billion, a P/E ratio of 15.02 and a beta of 0.31. The company’s 50-day moving average is $74.76 and its 200 day moving average is $74.53.

Pinnacle West Capital (NYSE:PNWGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. Pinnacle West Capital had a net margin of 13.88% and a return on equity of 9.04%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $974.60 million. During the same period in the prior year, the company posted $1.91 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that Pinnacle West Capital will post 3.98 EPS for the current year.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, Director Kathryn L. Munro sold 2,468 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $76.99, for a total value of $190,011.32. Following the completion of the sale, the director now directly owns 16,180 shares in the company, valued at $1,245,698.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors have recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in Pinnacle West Capital by 9,200.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 368 shares in the last quarter. City State Bank acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $27,000. Janiczek Wealth Management LLC boosted its stake in Pinnacle West Capital by 83.7% in the second quarter. Janiczek Wealth Management LLC now owns 373 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Pinnacle West Capital by 58.1% during the first quarter. First Horizon Advisors Inc. now owns 408 shares of the utilities provider’s stock worth $32,000 after buying an additional 150 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in shares of Pinnacle West Capital during the first quarter worth $35,000. 86.21% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle West Capital

(Get Rating)

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.

Further Reading

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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