Pinnacle West Capital Co. (NYSE:PNW) Given Average Recommendation of "Hold" by Analysts

Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $95.65.

A number of brokerages have recently weighed in on PNW. Morgan Stanley cut their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. BMO Capital Markets assumed coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price on the stock. Finally, Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th.

Pinnacle West Capital Trading Down 0.3%

PNW traded down $0.26 during midday trading on Thursday, hitting $89.28. 652,423 shares of the company were exchanged, compared to its average volume of 1,118,682. The firm's 50 day moving average price is $92.17 and its 200-day moving average price is $90.18. Pinnacle West Capital has a 1-year low of $74.45 and a 1-year high of $96.50. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $10.66 billion, a P/E ratio of 16.91, a P/E/G ratio of 3.59 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued 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). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. As a group, equities analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 5th were given a $0.895 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ellsworth Advisors LLC increased its stake in Pinnacle West Capital by 4.6% in the first quarter. Ellsworth Advisors LLC now owns 21,691 shares of the utilities provider's stock valued at $2,066,000 after acquiring an additional 960 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Pinnacle West Capital by 17.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,567 shares of the utilities provider's stock worth $149,000 after purchasing an additional 229 shares during the last quarter. Intech Investment Management LLC bought a new stake in Pinnacle West Capital during the 1st quarter valued at approximately $1,165,000. Integrity Alliance LLC. bought a new stake in Pinnacle West Capital during the 1st quarter valued at approximately $284,000. Finally, Bayforest Capital Ltd boosted its position in Pinnacle West Capital by 82.6% during the 1st quarter. Bayforest Capital Ltd now owns 935 shares of the utilities provider's stock valued at $89,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

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.