Citigroup Initiates Coverage on Pinnacle West Capital (NYSE:PNW)

Research analysts at Citigroup began coverage on shares of Pinnacle West Capital (NYSE:PNW - Get Free Report) in a research report issued on Monday, MarketBeat reports. The brokerage set a "neutral" rating and a $78.00 price target on the utilities provider's stock. Citigroup's target price suggests a potential upside of 4.15% from the company's previous close.

PNW has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on Pinnacle West Capital from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, January 26th. StockNews.com lowered Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Thursday, March 14th. Bank of America raised shares of Pinnacle West Capital from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $71.00 to $80.00 in a report on Monday, March 18th. Barclays increased their price target on shares of Pinnacle West Capital from $75.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Finally, Mizuho lowered their price objective on shares of Pinnacle West Capital from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $73.42.

Pinnacle West Capital Stock Up 1.6 %

PNW stock traded up $1.20 during trading on Monday, reaching $74.89. The stock had a trading volume of 738,990 shares, compared to its average volume of 1,325,528. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 2.08 and a beta of 0.49. Pinnacle West Capital has a one year low of $65.20 and a one year high of $86.03. The company's 50 day moving average is $71.88 and its two-hundred day moving average is $72.11.

Institutional Trading of Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the stock. MeadowBrook Investment Advisors LLC bought a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. grew its position in shares of Pinnacle West Capital by 338.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 355 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 274 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Pinnacle West Capital in the fourth quarter worth $26,000. Tobam raised its position in shares of Pinnacle West Capital by 2,620.0% in the fourth quarter. Tobam now owns 408 shares of the utilities provider's stock worth $29,000 after buying an additional 393 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in Pinnacle West Capital during the fourth quarter valued at $29,000. Hedge funds and other 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.