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

Pinnacle West Capital Co. (NYSE:PNW) has been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $85.21.

PNW has been the topic of a number of recent research reports. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Morgan Stanley cut their target price on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group cut their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. YANKCOM Partnership bought a new position in Pinnacle West Capital in the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC grew its holdings in Pinnacle West Capital by 124.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares during the period. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter worth $38,000. Prospera Private Wealth LLC acquired a new stake in Pinnacle West Capital during the 3rd quarter worth $43,000. Finally, Roble Belko & Company Inc acquired a new stake in Pinnacle West Capital during the 4th quarter worth $42,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.6 %

NYSE PNW opened at $87.77 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $86.72 and its two-hundred day moving average is $87.64. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 3.44 and a beta of 0.57. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $95.42.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.80%.

About Pinnacle West Capital

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.