Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $80.54

Shares of Pinnacle West Capital Co. (NYSE:PNW) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $80.54.

Several analysts have recently commented on PNW shares. StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays reduced their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $87.98 on Friday. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.30 and a beta of 0.52. The stock’s fifty day simple moving average is $87.82 and its 200 day simple moving average is $80.22. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. Pinnacle West Capital has a 52-week low of $65.20 and a 52-week high of $91.57.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.31 by $0.45. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. Pinnacle West Capital’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, sell-side analysts forecast that Pinnacle West Capital will post 4.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the sale, the executive vice president now owns 6,397 shares of the company’s stock, valued at $548,862.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Pinnacle West Capital by 377.9% in the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 291 shares during the period. Cape Investment Advisory Inc. bought a new position in shares of Pinnacle West Capital in the first quarter worth about $30,000. Newbridge Financial Services Group Inc. increased its stake in shares of Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 199 shares during the period. Rise Advisors LLC bought a new position in shares of Pinnacle West Capital in the first quarter worth about $36,000. Finally, Riverview Trust Co bought a new position in shares of Pinnacle West Capital in the first quarter worth about $46,000. 91.51% of the stock is currently 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.