Barclays Boosts Pinnacle West Capital (NYSE:PNW) Price Target to $76.00

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its price target upped by stock analysts at Barclays from $75.00 to $76.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Barclays's price target would indicate a potential upside of 5.39% from the stock's previous close.

A number of other research analysts have also commented on the company. Evercore ISI cut their price target on Pinnacle West Capital from $76.00 to $69.00 and set an "in-line" rating for the company in a report on Monday, March 4th. Bank of America upgraded Pinnacle West Capital from a "neutral" rating to a "buy" rating and upped their target price for the company from $71.00 to $80.00 in a research note on Monday, March 18th. Mizuho cut their target price on Pinnacle West Capital from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, March 6th. StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Thursday, March 14th. Finally, Royal Bank of Canada cut their target price on Pinnacle West Capital from $83.00 to $80.00 and set a "sector perform" rating for the company in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Pinnacle West Capital currently has an average rating of "Hold" and an average price target of $73.00.

Pinnacle West Capital Stock Performance

Shares of PNW stock traded down $0.13 during trading hours on Monday, reaching $72.11. 1,478,946 shares of the company's stock were exchanged, compared to its average volume of 1,393,583. Pinnacle West Capital has a fifty-two week low of $65.20 and a fifty-two week high of $86.03. The stock has a market capitalization of $8.19 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.03 and a beta of 0.49. The business has a fifty day moving average price of $70.77 and a 200-day moving average price of $72.06. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20.

Institutional Trading of Pinnacle West Capital

Several large investors have recently made changes to their positions in PNW. Treasurer of the State of North Carolina boosted its holdings in Pinnacle West Capital by 0.3% in the second quarter. Treasurer of the State of North Carolina now owns 49,483 shares of the utilities provider's stock valued at $4,031,000 after acquiring an additional 130 shares during the last quarter. Addison Advisors LLC boosted its holdings in Pinnacle West Capital by 16.6% in the third quarter. Addison Advisors LLC now owns 1,014 shares of the utilities provider's stock valued at $75,000 after acquiring an additional 144 shares during the last quarter. Eaton Vance Management boosted its holdings in Pinnacle West Capital by 1.9% in the first quarter. Eaton Vance Management now owns 7,921 shares of the utilities provider's stock valued at $619,000 after acquiring an additional 146 shares during the last quarter. Verity Asset Management Inc. boosted its holdings in Pinnacle West Capital by 5.3% in the second quarter. Verity Asset Management Inc. now owns 3,122 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 158 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in Pinnacle West Capital by 10.0% in the third quarter. MCF Advisors LLC now owns 1,896 shares of the utilities provider's stock valued at $140,000 after acquiring an additional 173 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

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.