Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Price Target at $73.42

Pinnacle West Capital Co. (NYSE:PNW) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $73.67.

Several brokerages have weighed in on PNW. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. StockNews.com downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH began coverage on Pinnacle West Capital in a report on Wednesday, February 14th. They set a “neutral” rating and a $69.00 price target on the stock. Evercore ISI dropped their price objective on Pinnacle West Capital from $76.00 to $69.00 and set an “in-line” rating for the company in a research note on Monday, March 4th. Finally, Royal Bank of Canada decreased their target price on Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, March 1st.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors have recently bought and sold shares of the business. Empirical Finance LLC raised its position in shares of Pinnacle West Capital by 3.4% during the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after buying an additional 134 shares in the last quarter. Addison Advisors LLC raised its position in Pinnacle West Capital by 16.6% during the third quarter. Addison Advisors LLC now owns 1,014 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 144 shares during the period. MCF Advisors LLC lifted its stake in shares of Pinnacle West Capital by 9.2% in the 4th quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 174 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Pinnacle West Capital by 70.6% in the 4th 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. Finally, Atria Wealth Solutions Inc. increased its position in shares of Pinnacle West Capital by 4.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock valued at $354,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.5 %

NYSE:PNW opened at $76.41 on Wednesday. Pinnacle West Capital has a one year low of $65.20 and a one year high of $86.03. The business has a fifty day moving average price of $72.69 and a 200-day moving average price of $72.09. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.17. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The firm had revenue of $951.71 million for the quarter, compared to the consensus estimate of $981.82 million. During the same quarter last year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts forecast that Pinnacle West Capital will post 4.72 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.61%. The ex-dividend date is Tuesday, April 30th. Pinnacle West Capital’s dividend payout ratio is presently 76.69%.

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.