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

Shares of Pinnacle West Capital Co. (NYSE:PNWGet Rating) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $71.33.

PNW has been the subject of a number of research reports. Mizuho raised their price target on shares of Pinnacle West Capital from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, August 9th. TheStreet raised Pinnacle West Capital from a “c+” rating to a “b” rating in a research note on Thursday, August 18th. Guggenheim raised Pinnacle West Capital from a “sell” rating to a “neutral” rating and raised their price objective for the company from $54.00 to $70.00 in a research note on Friday, November 18th. KeyCorp lowered their target price on Pinnacle West Capital from $62.00 to $56.00 and set an “underweight” rating on the stock in a research report on Thursday, October 20th. Finally, Wells Fargo & Company increased their target price on Pinnacle West Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, November 4th.

Insiders Place Their Bets

In related news, Director Kathryn L. Munro sold 2,468 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 16,180 shares of the company’s stock, valued at $1,245,698.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors have recently added to or reduced their stakes in PNW. Arizona State Retirement System grew its stake in shares of Pinnacle West Capital by 0.5% during the 1st quarter. Arizona State Retirement System now owns 30,497 shares of the utilities provider’s stock worth $2,382,000 after acquiring an additional 141 shares during the period. Eaton Vance Management boosted its position in Pinnacle West Capital by 1.9% during the first quarter. Eaton Vance Management now owns 7,921 shares of the utilities provider’s stock worth $619,000 after purchasing an additional 146 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Pinnacle West Capital by 23.0% in the third quarter. Quadrant Capital Group LLC now owns 792 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 148 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Pinnacle West Capital by 58.1% in the first quarter. First Horizon Advisors Inc. now owns 408 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Profund Advisors LLC boosted its holdings in Pinnacle West Capital by 2.8% in the 3rd quarter. Profund Advisors LLC now owns 5,647 shares of the utilities provider’s stock worth $364,000 after buying an additional 156 shares during the period. Institutional investors own 86.21% of the company’s stock.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $76.16 on Wednesday. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 16.14 and a beta of 0.40. 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’s 50 day moving average price is $68.19 and its two-hundred day moving average price is $71.97.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be given a dividend of $0.865 per share. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.85. This represents a $3.46 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Monday, October 31st. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 73.31%.

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.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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