Pinnacle West Capital (PNW) – Investment Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Pinnacle West Capital (NYSE: PNW):

  • 11/1/2018 – Pinnacle West Capital was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/24/2018 – Pinnacle West Capital was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/22/2018 – Pinnacle West Capital is now covered by analysts at Barclays PLC. They set a “hold” rating and a $86.00 price target on the stock.
  • 10/18/2018 – Pinnacle West Capital was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating.
  • 10/15/2018 – Pinnacle West Capital had its price target raised by analysts at Williams Capital from $80.00 to $84.00. They now have a “hold” rating on the stock.
  • 10/12/2018 – Pinnacle West Capital had its price target raised by analysts at Credit Suisse Group AG from $87.00 to $88.00. They now have an “outperform” rating on the stock.
  • 9/30/2018 – Pinnacle West Capital had its price target lowered by analysts at Wells Fargo & Co from $90.00 to $87.00. They now have a “buy” rating on the stock.
  • 9/21/2018 – Pinnacle West Capital had its price target lowered by analysts at Morgan Stanley from $89.00 to $85.00. They now have a “hold” rating on the stock.
  • 9/16/2018 – Pinnacle West Capital was upgraded by analysts at Wells Fargo & Co to a “buy” rating. They now have a $90.00 price target on the stock, up previously from $88.00.
  • 9/12/2018 – Pinnacle West Capital was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Year to date loss in Pinnacle West Capital's shares were wider than its industry's decline. Pinnacle West Capital is subject to comprehensive regulations by federal, state and local regulatory agencies. Its operations are subject to fluctuations in the commodity price and weather, as well as operational hazards. The company is well positioned to gain from the ongoing economic improvement in its service territories and customer growth. Pinnacle West Capital’s long-term capital expenditure plan will further strengthen its capabilities. The company is also investing in battery storage projects, which will make its renewable projects more effective.”
  • 9/11/2018 – Pinnacle West Capital had its price target raised by analysts at Morgan Stanley from $85.00 to $89.00. They now have a “hold” rating on the stock.

PNW opened at $84.65 on Wednesday. Pinnacle West Capital Co. has a 1-year low of $73.41 and a 1-year high of $92.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.50 and a quick ratio of 0.36. The company has a market capitalization of $9.22 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 4.12 and a beta of 0.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st will be given a $0.7375 dividend. This represents a $2.95 annualized dividend and a dividend yield of 3.48%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, October 31st. Pinnacle West Capital’s dividend payout ratio is currently 67.82%.

Several institutional investors and hedge funds have recently bought and sold shares of PNW. Dimensional Fund Advisors LP boosted its position in shares of Pinnacle West Capital by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 297,945 shares of the utilities provider’s stock valued at $23,775,000 after acquiring an additional 18,119 shares during the period. DnB Asset Management AS lifted its position in Pinnacle West Capital by 9.9% in the second quarter. DnB Asset Management AS now owns 20,029 shares of the utilities provider’s stock worth $1,614,000 after purchasing an additional 1,800 shares during the period. IFM Investors Pty Ltd bought a new position in Pinnacle West Capital in the second quarter worth $226,000. State of Alaska Department of Revenue lifted its position in Pinnacle West Capital by 18.2% in the second quarter. State of Alaska Department of Revenue now owns 59,156 shares of the utilities provider’s stock worth $4,763,000 after purchasing an additional 9,100 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its position in Pinnacle West Capital by 10.2% in the second quarter. Xact Kapitalforvaltning AB now owns 12,359 shares of the utilities provider’s stock worth $996,000 after purchasing an additional 1,143 shares during the period. 82.12% of the stock is owned by institutional investors.

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

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