Pinnacle West Capital (NYSE:PNW) Upgraded by Wolfe Research to Peer Perform

Wolfe Research upgraded shares of Pinnacle West Capital (NYSE:PNWGet Rating) from an underperform rating to a peer perform rating in a research report released on Thursday morning, MarketBeat reports.

Several other equities analysts have also commented on PNW. KeyCorp decreased their price objective on shares of Pinnacle West Capital from $62.00 to $56.00 and set an underweight rating on the stock in a report on Thursday, October 20th. StockNews.com started coverage on shares of Pinnacle West Capital in a report on Wednesday, October 12th. They set a hold rating on the stock. Credit Suisse Group increased their target price on shares of Pinnacle West Capital from $57.00 to $60.00 and gave the stock an underperform rating in a report on Friday, November 4th. Morgan Stanley increased their target price on shares of Pinnacle West Capital from $62.00 to $67.00 and gave the stock an equal weight rating in a report on Friday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the stock an equal weight rating in a report on Friday, November 4th. Five analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $70.25.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $73.73 on Thursday. The firm’s 50 day moving average price is $68.22 and its 200-day moving average price is $71.94. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.77 and a current ratio of 0.98. Pinnacle West Capital has a one year low of $59.03 and a one year high of $80.51. The firm has a market cap of $8.34 billion, a P/E ratio of 15.62 and a beta of 0.40.

Pinnacle West Capital Increases Dividend

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

Insider Activity at Pinnacle West Capital

In related news, Director Kathryn L. Munro sold 2,468 shares of the stock in a transaction 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 transaction, the director now directly owns 16,180 shares of the company’s stock, valued at approximately $1,245,698.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Janiczek Wealth Management LLC grew its position in shares of Pinnacle West Capital by 83.7% in the 2nd quarter. Janiczek Wealth Management LLC now owns 373 shares of the utilities provider’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. First Horizon Advisors Inc. grew 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 purchasing an additional 150 shares during the last quarter. Prospera Financial Services Inc purchased a new position in Pinnacle West Capital during the 1st quarter worth $35,000. Addison Advisors LLC grew 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 purchasing an additional 371 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Pinnacle West Capital during the 1st quarter worth $45,000. 86.21% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle West Capital

(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.

See Also

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.