Pinnacle West Capital Co. (NYSE:PNW) Receives Average Recommendation of “Hold” from Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been given a consensus rating of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $81.88.

Several equities analysts have recently commented on PNW shares. Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 price target on the stock. Morgan Stanley lowered their price target on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th.

Pinnacle West Capital Trading Down 0.7 %

NYSE PNW opened at $92.93 on Friday. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.19 and a beta of 0.52. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital has a 12 month low of $65.20 and a 12 month high of $94.38. The company’s fifty day moving average price is $89.01 and its two-hundred day moving average price is $83.91.

Pinnacle West Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Monday, November 4th. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s dividend payout ratio is currently 67.80%.

Institutional Trading of Pinnacle West Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in PNW. First Horizon Advisors Inc. increased its stake in shares of Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 137 shares during the period. GAMMA Investing LLC boosted its stake in Pinnacle West Capital by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,147 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 138 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Pinnacle West Capital by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 163 shares during the period. LRI Investments LLC raised its stake in shares of Pinnacle West Capital by 7.0% in the 3rd quarter. LRI Investments LLC now owns 2,498 shares of the utilities provider’s stock worth $227,000 after buying an additional 163 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Pinnacle West Capital by 2.6% in the third quarter. Crossmark Global Holdings Inc. now owns 6,581 shares of the utilities provider’s stock valued at $583,000 after buying an additional 169 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.