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

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been given an average rating of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $73.67.

Several equities research analysts have commented on the company. Evercore ISI cut 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. Guggenheim raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Monday, January 22nd. LADENBURG THALM/SH SH assumed coverage on shares of Pinnacle West Capital in a research note on Wednesday, February 14th. They set a “neutral” rating and a $69.00 target price on the stock. Royal Bank of Canada reduced their target price on shares of Pinnacle West Capital from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, March 1st. Finally, UBS Group upgraded shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $71.00 in a research report on Monday, March 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PNW. Empirical Finance LLC raised its position in Pinnacle West Capital by 3.4% in the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 134 shares during the period. Addison Advisors LLC increased its position in shares of Pinnacle West Capital by 16.6% during the 3rd quarter. Addison Advisors LLC now owns 1,014 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 144 shares during the last quarter. MCF Advisors LLC raised its holdings in 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 buying an additional 174 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after buying an additional 199 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Pinnacle West Capital by 4.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock worth $354,000 after buying an additional 229 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $76.41 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.42 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a twelve month low of $65.20 and a twelve month high of $86.03. The stock has a 50-day moving average of $72.69 and a 200 day moving average of $72.09. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.12 and a beta of 0.48.

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

Pinnacle West Capital Announces Dividend

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

Pinnacle West Capital Company Profile

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.