Pinnacle West Capital (NYSE:PNW) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Pinnacle West Capital (NYSE:PNW) had its price objective increased by analysts at Wells Fargo & Company from $90.00 to $92.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 3.06% from the company’s current price.

Other equities analysts have also issued research reports about the company. 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 target for the company. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Morgan Stanley increased their target price 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.96.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock traded down $0.83 during midday trading on Thursday, hitting $89.27. 232,064 shares of the company were exchanged, compared to its average volume of 1,134,208. The business has a fifty day simple moving average of $88.30 and a two-hundred day simple moving average of $82.56. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a market capitalization of $10.14 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. Pinnacle West Capital has a fifty-two week low of $65.20 and a fifty-two week high of $92.59.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.35 by $0.02. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.68 billion. On average, sell-side analysts forecast that Pinnacle West Capital will post 4.9 earnings per share for the current year.

Insider Buying and Selling at Pinnacle West Capital

In related news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC grew 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 buying an additional 342 shares during the period. CIBC Asset Management Inc grew its position in Pinnacle West Capital by 8.0% in the third quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock worth $1,394,000 after acquiring an additional 1,163 shares during the period. ING Groep NV acquired a new stake in Pinnacle West Capital during the third quarter worth $12,065,000. KBC Group NV raised its position in Pinnacle West Capital by 21.4% in the third quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 524 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $506,000. 91.51% of the stock is currently 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.