Pinnacle West Capital (NYSE:PNW) PT Raised to $77.00 at Wells Fargo & Company

Pinnacle West Capital (NYSE:PNW) had its price objective increased by Wells Fargo & Company from $74.00 to $77.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.60% from the stock’s current price.

Several other research firms have also recently weighed in on PNW. UBS Group upgraded Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $71.00 in a research note on Monday, March 11th. Royal Bank of Canada decreased their target price on Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, March 1st. Mizuho dropped their target price on shares of Pinnacle West Capital from $77.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Citigroup assumed coverage on shares of Pinnacle West Capital in a report on Monday, April 29th. They set a “neutral” rating and a $78.00 price target on the stock. Finally, StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $73.67.

Pinnacle West Capital Stock Up 1.0 %

NYSE PNW opened at $75.79 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.12 and a beta of 0.48. The company has a 50 day moving average of $72.41 and a 200-day moving average of $72.10. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $86.03.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $951.71 million during the quarter, compared to the consensus estimate of $981.82 million. Pinnacle West Capital had a return on equity of 8.30% and a net margin of 11.09%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. On average, equities research analysts expect that Pinnacle West Capital will post 4.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNW. Capital Research Global Investors increased its stake in shares of Pinnacle West Capital by 116.8% in the fourth quarter. Capital Research Global Investors now owns 6,507,809 shares of the utilities provider’s stock valued at $467,521,000 after buying an additional 3,506,181 shares during the period. Norges Bank bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $112,914,000. Victory Capital Management Inc. increased its position in shares of Pinnacle West Capital by 1,267.8% during the fourth quarter. Victory Capital Management Inc. now owns 311,861 shares of the utilities provider’s stock worth $22,404,000 after buying an additional 289,061 shares during the period. Barclays PLC raised its stake in Pinnacle West Capital by 99.4% during the third quarter. Barclays PLC now owns 332,043 shares of the utilities provider’s stock worth $24,465,000 after buying an additional 165,495 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Pinnacle West Capital by 494.7% in the fourth quarter. BNP Paribas Financial Markets now owns 197,905 shares of the utilities provider’s stock valued at $14,217,000 after buying an additional 164,625 shares during the period. 91.51% of the stock is owned by institutional investors.

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.