Brokerages Set Pinnacle West Capital Corporation (NYSE:PNW) PT at $96.09

Pinnacle West Capital Corporation (NYSE:PNW) has been assigned an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $96.6364.

A number of brokerages have recently issued reports on PNW. KeyCorp dropped their target price on shares of Pinnacle West Capital from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Barclays upped their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday. BMO Capital Markets upped their target price on shares of Pinnacle West Capital from $96.00 to $98.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. UBS Group upped their target price on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Friday. Finally, Mizuho cut shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $90.00 in a report on Tuesday, September 9th.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $92.37, for a total value of $600,035.52. Following the transaction, the executive vice president directly owned 56 shares of the company’s stock, valued at $5,172.72. This represents a 99.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinnacle West Capital

A number of institutional investors have recently bought and sold shares of the business. Clearstead Trust LLC bought a new position in shares of Pinnacle West Capital during the first quarter worth approximately $25,000. Costello Asset Management INC bought a new position in shares of Pinnacle West Capital during the first quarter worth approximately $26,000. Caldwell Trust Co bought a new position in shares of Pinnacle West Capital during the second quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the second quarter worth approximately $27,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Pinnacle West Capital during the second quarter worth approximately $31,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.8%

Shares of NYSE:PNW opened at $92.32 on Wednesday. The company’s 50-day moving average price is $89.66 and its two-hundred day moving average price is $90.80. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. Pinnacle West Capital has a one year low of $81.47 and a one year high of $96.50. The stock has a market capitalization of $11.03 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 9.46 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.58. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. Pinnacle West Capital’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. On average, equities analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

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.