Pinnacle West Capital (NYSE:PNW) Rating Increased to Strong-Buy at LADENBURG THALM/SH SH

Pinnacle West Capital (NYSE:PNW) was upgraded by stock analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

PNW has been the subject of a number of other reports. Guggenheim restated a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their target price on 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. Wells Fargo & Company raised their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Finally, Morgan Stanley lowered their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.81.

Pinnacle West Capital Stock Down 1.0 %

Shares of NYSE PNW opened at $93.33 on Monday. The stock has a market cap of $11.12 billion, a PE ratio of 17.68, a PEG ratio of 3.59 and a beta of 0.53. The business has a fifty day moving average of $88.79 and a two-hundred day moving average of $88.70. Pinnacle West Capital has a 52-week low of $70.73 and a 52-week high of $95.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, equities research analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Trading of Pinnacle West Capital

A number of institutional investors and hedge funds have recently modified their holdings of PNW. KBC Group NV increased its stake in shares of Pinnacle West Capital by 21.4% in the 3rd quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 524 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Pinnacle West Capital by 8.0% in the 3rd quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock valued at $1,394,000 after acquiring an additional 1,163 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Pinnacle West Capital by 1.5% in the 3rd quarter. Natixis Advisors LLC now owns 23,221 shares of the utilities provider’s stock valued at $2,057,000 after acquiring an additional 342 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Pinnacle West Capital by 3.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 65,736 shares of the utilities provider’s stock valued at $5,824,000 after acquiring an additional 2,433 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at about $43,000. 91.51% of the stock is owned by institutional investors.

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.