Pinnacle West Capital (NYSE:PNW) Price Target Raised to $91.00


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Pinnacle West Capital (NYSE:PNW) had its target price lifted by research analysts at Credit Suisse Group from $81.00 to $91.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 7.53% from the company’s previous close.

Several other research firms have also weighed in on PNW. Siebert Williams Shank upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and lowered their target price for the company from $97.00 to $92.00 in a research note on Monday, March 1st. Williams Capital reiterated a “buy” rating on shares of Pinnacle West Capital in a research note on Friday, April 23rd. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, April 30th. TheStreet lowered shares of Pinnacle West Capital from a “b” rating to a “c+” rating in a research note on Tuesday, March 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Pinnacle West Capital from $92.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $88.14.

Shares of NYSE:PNW opened at $84.63 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $82.33 and a 200 day simple moving average of $80.39. The firm has a market cap of $9.54 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 4.47 and a beta of 0.25. Pinnacle West Capital has a 12-month low of $69.29 and a 12-month high of $91.88.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 23rd. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The company had revenue of $740.96 million during the quarter, compared to the consensus estimate of $672.70 million. Pinnacle West Capital had a return on equity of 11.16% and a net margin of 18.03%. As a group, equities research analysts forecast that Pinnacle West Capital will post 5.08 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its position in shares of Pinnacle West Capital by 2.3% during the first quarter. Daiwa Securities Group Inc. now owns 5,954 shares of the utilities provider’s stock worth $484,000 after acquiring an additional 134 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Pinnacle West Capital by 4.7% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,191 shares of the utilities provider’s stock valued at $255,000 after buying an additional 143 shares in the last quarter. Heritage Wealth Advisors grew its position in Pinnacle West Capital by 69.8% in the 1st quarter. Heritage Wealth Advisors now owns 365 shares of the utilities provider’s stock valued at $30,000 after buying an additional 150 shares in the last quarter. Gateway Investment Advisers LLC grew its position in Pinnacle West Capital by 0.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 31,150 shares of the utilities provider’s stock valued at $2,490,000 after buying an additional 163 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its position in Pinnacle West Capital by 4.2% in the 1st quarter. CHICAGO TRUST Co NA now owns 4,885 shares of the utilities provider’s stock valued at $398,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

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