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

LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital (NYSE:PNW) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

PNW has been the subject of a number of other research reports. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Morgan Stanley lowered their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Citigroup increased their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Barclays cut shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $93.00 to $91.00 in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pinnacle West Capital presently has an average 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 firm has a 50 day simple moving average of $88.79 and a 200-day simple moving average of $88.70. Pinnacle West Capital has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a market capitalization of $11.12 billion, a PE ratio of 17.68, a P/E/G ratio of 3.59 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, equities analysts predict that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new position in Pinnacle West Capital in the 4th quarter valued at about $29,000. Canada Post Corp Registered Pension Plan purchased a new position in Pinnacle West Capital in the 4th quarter valued at about $35,000. Brown Lisle Cummings Inc. purchased a new position in Pinnacle West Capital in the 4th quarter valued at about $38,000. Prospera Private Wealth LLC purchased a new position in Pinnacle West Capital in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc purchased a new position in Pinnacle West Capital in the 4th quarter valued at about $42,000. 91.51% of the stock is currently owned by hedge funds and other 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.