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

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $84.65.

Several research firms have issued reports on PNW. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective on the stock. Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $93.00 to $91.00 in a report on Monday, November 18th.

Pinnacle West Capital Stock Down 1.5 %

Pinnacle West Capital stock opened at $88.94 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The company’s 50-day moving average is $89.69 and its 200-day moving average is $85.31. The firm has a market capitalization of $10.11 billion, a PE ratio of 16.84, a P/E/G ratio of 2.17 and a beta of 0.54. Pinnacle West Capital has a fifty-two week low of $65.20 and a fifty-two week high of $95.42.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 4.03%. Pinnacle West Capital’s dividend payout ratio is presently 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its position in shares of Pinnacle West Capital by 3.1% in the third quarter. Synovus Financial Corp now owns 7,585 shares of the utilities provider’s stock worth $672,000 after purchasing an additional 229 shares during the period. Tidal Investments LLC grew its stake in Pinnacle West Capital by 7.6% during the third quarter. Tidal Investments LLC now owns 2,881 shares of the utilities provider’s stock worth $255,000 after buying an additional 203 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Pinnacle West Capital by 61.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,151 shares of the utilities provider’s stock valued at $757,000 after buying an additional 3,104 shares during the period. Virtu Financial LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at approximately $882,000. Finally, Fortem Financial Group LLC bought a new stake in shares of Pinnacle West Capital during the 3rd quarter worth approximately $495,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.