Pinnacle West Capital (NYSE:PNW) Upgraded at Guggenheim

Guggenheim upgraded shares of Pinnacle West Capital (NYSE:PNWGet Rating) from a sell rating to a neutral rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $70.00 price objective on the utilities provider’s stock, up from their prior price objective of $54.00.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upped their price target on Pinnacle West Capital from $62.00 to $67.00 and gave the stock an equal weight rating in a research report on Friday, November 11th. StockNews.com assumed coverage on Pinnacle West Capital in a research report on Wednesday, October 12th. They set a hold rating for the company. Credit Suisse Group upped their price target on Pinnacle West Capital from $57.00 to $60.00 and gave the stock an underperform rating in a research report on Friday, November 4th. Wolfe Research raised Pinnacle West Capital from an underperform rating to a peer perform rating in a research report on Thursday. Finally, Mizuho upped their price objective on Pinnacle West Capital from $76.00 to $77.00 and gave the stock a neutral rating in a research note on Tuesday, August 9th. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $70.25.

Pinnacle West Capital Price Performance

Shares of PNW opened at $73.73 on Friday. Pinnacle West Capital has a 52-week low of $59.03 and a 52-week high of $80.51. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.77 and a current ratio of 0.98. The stock has a 50 day simple moving average of $68.22 and a 200 day simple moving average of $71.94. The firm has a market capitalization of $8.34 billion, a PE ratio of 15.62 and a beta of 0.40.

Pinnacle West Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be paid a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, October 31st. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.85. Pinnacle West Capital’s dividend payout ratio is 73.31%.

Insiders Place Their Bets

In other Pinnacle West Capital news, Director Kathryn L. Munro sold 2,468 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $76.99, for a total transaction of $190,011.32. Following the transaction, the director now owns 16,180 shares in the company, valued at approximately $1,245,698.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC increased its position in Pinnacle West Capital by 83.7% during the 2nd quarter. Janiczek Wealth Management LLC now owns 373 shares of the utilities provider’s stock worth $27,000 after buying an additional 170 shares during the period. First Horizon Advisors Inc. increased its position in Pinnacle West Capital by 58.1% during the 1st 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. Prospera Financial Services Inc bought a new position in Pinnacle West Capital during the 1st quarter worth $35,000. Addison Advisors LLC increased its position in Pinnacle West Capital by 223.5% during the 3rd quarter. Addison Advisors LLC now owns 537 shares of the utilities provider’s stock worth $35,000 after buying an additional 371 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Pinnacle West Capital during the 1st quarter worth $45,000. Institutional investors own 86.21% of the company’s stock.

Pinnacle West Capital Company Profile

(Get Rating)

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.

Recommended Stories

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.