Pinnacle West Capital Co. (NYSE:PNW) Receives $72.91 Average Price Target from Brokerages

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $72.91.

PNW has been the topic of several recent analyst reports. Morgan Stanley upped their price objective on shares of Pinnacle West Capital from $69.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, March 21st. Barclays cut their target price on shares of Pinnacle West Capital from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 6th. StockNews.com downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Thursday, March 14th. Mizuho cut their target price on shares of Pinnacle West Capital from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada cut their target price on shares of Pinnacle West Capital from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday, March 1st.

Pinnacle West Capital Trading Down 0.4 %

Shares of PNW stock traded down $0.26 during trading hours on Friday, hitting $72.76. The company had a trading volume of 505,565 shares, compared to its average volume of 1,061,898. The company's fifty day moving average is $70.35 and its 200 day moving average is $72.24. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.50. 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 $8.25 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.49.

Institutional Investors Weigh In On Pinnacle West Capital

A number of large investors have recently modified their holdings of PNW. Comerica Bank purchased a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $4,620,000. Pacer Advisors Inc. grew its position in shares of Pinnacle West Capital by 604.2% in the 4th quarter. Pacer Advisors Inc. now owns 50,631 shares of the utilities provider's stock valued at $3,637,000 after buying an additional 43,441 shares during the last quarter. Hudson Bay Capital Management LP grew its position in shares of Pinnacle West Capital by 254.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 115,160 shares of the utilities provider's stock valued at $8,485,000 after buying an additional 82,660 shares during the last quarter. UBS Group AG grew its position in shares of Pinnacle West Capital by 83.2% in the 3rd quarter. UBS Group AG now owns 308,765 shares of the utilities provider's stock valued at $22,750,000 after buying an additional 140,215 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in shares of Pinnacle West Capital by 18.2% in the 3rd quarter. Moors & Cabot Inc. now owns 6,257 shares of the utilities provider's stock valued at $461,000 after buying an additional 962 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.