Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) PT at $73.42

Pinnacle West Capital Co. (NYSE:PNW) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $73.67.

Several research analysts have recently weighed in on the stock. Mizuho decreased 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 research note on Wednesday, March 6th. Guggenheim upgraded Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Monday, January 22nd. Morgan Stanley boosted their price target on Pinnacle West Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Evercore ISI lowered their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. Finally, UBS Group raised Pinnacle West Capital from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $71.00 in a research report on Monday, March 11th.

Pinnacle West Capital Stock Up 1.0 %

Shares of NYSE PNW opened at $75.79 on Wednesday. The stock has a fifty day moving average price of $72.41 and a 200 day moving average price of $72.07. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $86.03. The company has a market cap of $8.61 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.12 and a beta of 0.48.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $951.71 million during the quarter, compared to analyst estimates 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 for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Research analysts anticipate that Pinnacle West Capital will post 4.72 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.52 dividend on an annualized basis and a yield of 4.64%. Pinnacle West Capital’s dividend payout ratio is currently 76.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNW. MeadowBrook Investment Advisors LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter valued at $25,000. Financial Gravity Asset Management Inc. boosted its stake in 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 period. BOK Financial Private Wealth Inc. bought a new position in Pinnacle West Capital in the 4th quarter worth about $26,000. Tobam increased its stake in shares of Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 393 shares during the period. Finally, First United Bank & Trust bought a new stake in shares of Pinnacle West Capital during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds 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.