Pinnacle West Capital (NYSE:PNW) PT Lowered to $72.00

Pinnacle West Capital (NYSE:PNW) had its target price dropped by equities researchers at Morgan Stanley from $76.00 to $72.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 4.28% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on PNW. Citigroup started coverage on shares of Pinnacle West Capital in a report on Monday, April 29th. They issued a “neutral” rating and a $78.00 price objective for the company. Bank of America upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $71.00 to $80.00 in a report on Monday, March 18th. Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Finally, LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $74.00 to $83.50 in a report on Thursday, June 6th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $75.71.

Pinnacle West Capital Trading Down 0.7 %

Shares of NYSE:PNW opened at $75.22 on Monday. The stock has a market capitalization of $8.54 billion, a PE ratio of 16.39, a P/E/G ratio of 1.90 and a beta of 0.50. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $86.03. The firm has a fifty day moving average price of $76.05 and a 200 day moving average price of $72.88. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $951.71 million during the quarter, compared to analysts’ expectations of $981.82 million. Pinnacle West Capital had a net margin of 11.09% and a return on equity of 8.29%. Pinnacle West Capital’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. Analysts expect that Pinnacle West Capital will post 4.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new position in shares of Pinnacle West Capital during the first quarter valued at about $30,000. Verity Asset Management Inc. raised its position in shares of Pinnacle West Capital by 6.9% during the first quarter. Verity Asset Management Inc. now owns 4,666 shares of the utilities provider’s stock valued at $349,000 after buying an additional 300 shares during the last quarter. Cetera Advisors LLC acquired a new position in Pinnacle West Capital in the first quarter worth about $569,000. Cetera Investment Advisers raised its position in Pinnacle West Capital by 177.0% in the first quarter. Cetera Investment Advisers now owns 29,090 shares of the utilities provider’s stock worth $2,174,000 after purchasing an additional 18,589 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Pinnacle West Capital in the first quarter worth about $174,000. 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.