Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $95.83

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has been given a consensus rating of "Hold" by the nine ratings firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $95.83.

PNW has been the subject of several research analyst reports. Jefferies Financial Group dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a research report on Tuesday, April 22nd. UBS Group raised their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a report on Friday, March 21st. StockNews.com downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock traded down $1.57 during trading on Friday, reaching $90.04. The company's stock had a trading volume of 992,420 shares, compared to its average volume of 1,111,763. The company has a 50-day moving average price of $93.01 and a two-hundred day moving average price of $90.01. Pinnacle West Capital has a fifty-two week low of $74.45 and a fifty-two week high of $99.60. The firm has a market cap of $10.75 billion, a PE ratio of 17.05, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same period in the previous year, the company posted $0.15 earnings per share. Pinnacle West Capital's quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital's payout ratio is currently 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Several institutional investors have recently bought and sold shares of PNW. Clearstead Trust LLC purchased a new stake in Pinnacle West Capital during the 1st quarter worth $25,000. Costello Asset Management INC acquired a new position in shares of Pinnacle West Capital during the first quarter worth about $26,000. YANKCOM Partnership purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth about $29,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $35,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $38,000. 91.51% of the stock is currently 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.