Pinnacle West Capital (NYSE:PNW) has been assigned a $81.00 price target by equities researchers at SunTrust Banks in a research report issued to clients and investors on Monday, February 12th. The firm currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price objective indicates a potential upside of 2.94% from the stock’s current price.
A number of other research analysts also recently issued reports on PNW. UBS Group began coverage on Pinnacle West Capital in a report on Friday, February 2nd. They set a “neutral” rating and a $81.00 price target on the stock. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Pinnacle West Capital in a research note on Thursday, February 1st. Williams Capital reiterated a “hold” rating and set a $84.00 target price (down previously from $87.00) on shares of Pinnacle West Capital in a research report on Monday, January 29th. Zacks Investment Research cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Bank of America began coverage on Pinnacle West Capital in a report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.30.
Shares of Pinnacle West Capital (NYSE:PNW) traded up $0.63 during mid-day trading on Monday, reaching $78.69. The company had a trading volume of 843,200 shares, compared to its average volume of 785,994. Pinnacle West Capital has a 12 month low of $73.81 and a 12 month high of $92.48. The stock has a market capitalization of $8,792.02, a PE ratio of 17.00, a price-to-earnings-growth ratio of 5.62 and a beta of 0.27. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90.
In other news, Chairman Donald E. Brandt sold 24,216 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $79.21, for a total value of $1,918,149.36. Following the completion of the transaction, the chairman now owns 94,358 shares of the company’s stock, valued at approximately $7,474,097.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David P. Falck sold 4,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the completion of the transaction, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at approximately $3,637,440.66. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Pinnacle West Capital by 1.0% in the 4th quarter. BlackRock Inc. now owns 11,348,077 shares of the utilities provider’s stock worth $966,629,000 after purchasing an additional 114,132 shares during the period. Boston Partners increased its stake in Pinnacle West Capital by 24.3% during the 4th quarter. Boston Partners now owns 3,511,585 shares of the utilities provider’s stock worth $299,117,000 after buying an additional 687,119 shares in the last quarter. American Century Companies Inc. increased its stake in Pinnacle West Capital by 2.5% during the 4th quarter. American Century Companies Inc. now owns 2,674,862 shares of the utilities provider’s stock worth $227,845,000 after buying an additional 64,083 shares in the last quarter. Millennium Management LLC increased its stake in Pinnacle West Capital by 9.8% during the 4th quarter. Millennium Management LLC now owns 2,588,824 shares of the utilities provider’s stock worth $220,516,000 after buying an additional 230,870 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Pinnacle West Capital by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,250,377 shares of the utilities provider’s stock worth $106,303,000 after buying an additional 46,410 shares in the last quarter. 82.05% of the stock is owned by institutional investors.
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Pinnacle West Capital Company Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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