Pinnacle West Capital Co. (NYSE:PNW) Receives $72.91 Average PT from Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $72.91.

PNW has been the topic of a number of research reports. Barclays dropped their price target on Pinnacle West Capital from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. Bank of America upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $71.00 to $80.00 in a report on Monday, March 18th. Royal Bank of Canada reduced their price target on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Wells Fargo & Company lowered their price objective on shares of Pinnacle West Capital from $78.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, January 26th. Finally, UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $71.00 in a report on Monday, March 11th.

Pinnacle West Capital Stock Up 1.8 %

Shares of NYSE PNW opened at $74.08 on Friday. The company’s fifty day simple moving average is $70.42 and its 200 day simple moving average is $72.16. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $86.03. The firm has a market cap of $8.40 billion, a PE ratio of 16.80, a P/E/G ratio of 2.03 and a beta of 0.49. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20.

Institutional Trading of Pinnacle West Capital

Institutional investors have recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. increased its position in shares of Pinnacle West Capital by 338.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 274 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth $26,000. Tobam raised its stake in shares of Pinnacle West Capital by 2,620.0% during the 4th quarter. Tobam now owns 408 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 393 shares during the period. Finally, First United Bank & Trust purchased a new position in shares of Pinnacle West Capital in the 4th quarter worth about $29,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, 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. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.