Pinnacle West Capital (NYSE:PNW) has been assigned a $82.00 target price by research analysts at SunTrust Banks in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price objective would suggest a potential upside of 5.83% from the company’s previous close.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Royal Bank of Canada restated a “neutral” rating on shares of Pinnacle West Capital in a research note on Thursday, February 1st. Morgan Stanley restated a “hold” rating and issued a $84.00 target price (up previously from $80.00) on shares of Pinnacle West Capital in a research note on Monday, February 26th. UBS began coverage on Pinnacle West Capital in a research note on Friday, February 2nd. They issued a “neutral” rating and a $81.00 target price on the stock. Finally, Williams Capital restated a “hold” rating and issued a $84.00 target price (down previously from $87.00) on shares of Pinnacle West Capital in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $84.18.
Shares of PNW stock traded down $0.25 on Thursday, reaching $77.48. The company’s stock had a trading volume of 95,219 shares, compared to its average volume of 882,316. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61. The company has a market cap of $8,717.03, a price-to-earnings ratio of 17.87, a P/E/G ratio of 5.89 and a beta of 0.31. Pinnacle West Capital has a 1 year low of $73.81 and a 1 year high of $92.48.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $759.65 million during the quarter, compared to analyst estimates of $773.12 million. Pinnacle West Capital had a return on equity of 9.59% and a net margin of 13.70%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. analysts expect that Pinnacle West Capital will post 4.46 earnings per share for the current year.
In related news, VP John S. Hatfield sold 2,145 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $76.14, for a total value of $163,320.30. Following the transaction, the vice president now owns 1,443 shares in the company, valued at $109,870.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn L. Munro sold 2,666 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $75.36, for a total value of $200,909.76. Following the completion of the transaction, the director now owns 15,630 shares in the company, valued at approximately $1,177,876.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,110 shares of company stock worth $5,300,760. 0.70% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of PNW. Nationwide Fund Advisors lifted its stake in Pinnacle West Capital by 5.5% in the third quarter. Nationwide Fund Advisors now owns 211,872 shares of the utilities provider’s stock valued at $17,916,000 after purchasing an additional 11,132 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in Pinnacle West Capital by 7.4% in the third quarter. State of Wisconsin Investment Board now owns 89,116 shares of the utilities provider’s stock valued at $7,536,000 after purchasing an additional 6,156 shares during the last quarter. Swiss National Bank lifted its stake in Pinnacle West Capital by 1.3% in the third quarter. Swiss National Bank now owns 410,851 shares of the utilities provider’s stock valued at $34,742,000 after purchasing an additional 5,200 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its stake in Pinnacle West Capital by 17.8% in the third quarter. Global X MANAGEMENT CO LLC now owns 6,662 shares of the utilities provider’s stock valued at $563,000 after purchasing an additional 1,008 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Pinnacle West Capital by 1.5% in the third quarter. New York State Common Retirement Fund now owns 235,900 shares of the utilities provider’s stock valued at $19,948,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
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About Pinnacle West Capital
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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