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

Shares of Pinnacle West Capital Co. (NYSE:PNW - Get Free Report) have been given an average rating of "Hold" by the ten research firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $97.00.

PNW has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They issued a "market perform" rating and a $95.00 target price on the stock. LADENBURG THALM/SH SH raised Pinnacle West Capital to a "hold" rating in a research report on Friday, May 9th. Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped 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 report on Thursday, May 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNW. Clearstead Trust LLC acquired a new position in Pinnacle West Capital in the 1st quarter valued at $25,000. Costello Asset Management INC bought a new stake in shares of Pinnacle West Capital during the 1st quarter valued at $26,000. YANKCOM Partnership bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth $35,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth $38,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Down 0.4%

Shares of NYSE:PNW traded down $0.34 during trading on Thursday, hitting $89.05. 781,701 shares of the company's stock traded hands, compared to its average volume of 1,118,931. Pinnacle West Capital has a 52 week low of $74.45 and a 52 week high of $96.50. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 3.59 and a beta of 0.43. The company has a 50-day moving average price of $92.05 and a 200-day moving average price of $90.13.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $988.95 million. During the same quarter last year, the firm earned $0.15 EPS. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, May 5th. Pinnacle West Capital's dividend payout ratio is 71.17%.

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.