Pinnacle West Capital Corporation (NYSE:PNW) Receives $97.00 Consensus Target Price from Brokerages

Shares of Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) have earned an average rating of "Hold" from the ten ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $97.00.

PNW has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. BMO Capital Markets started coverage on shares of Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 price target for the company. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company boosted their target price on shares of 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, UBS Group lifted their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW traded up $1.30 during trading on Monday, reaching $90.77. 1,738,919 shares of the company traded hands, compared to its average volume of 1,140,319. The company has a quick ratio of 0.34, a current ratio of 0.50 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $91.06 and a 200-day simple moving average of $89.84. Pinnacle West Capital has a 52-week low of $75.10 and a 52-week high of $96.50. The stock has a market capitalization of $10.84 billion, a PE ratio of 17.79, a P/E/G ratio of 9.35 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. Equities research analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be paid a $0.895 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.58 dividend on an annualized basis and a yield of 3.94%. Pinnacle West Capital's payout ratio is presently 71.17%.

Hedge Funds Weigh In On Pinnacle West Capital

Large investors have recently made changes to their positions in the business. Clearstead Trust LLC purchased a new position in Pinnacle West Capital in the 1st quarter worth approximately $25,000. Costello Asset Management INC bought a new stake in shares of Pinnacle West Capital during the first quarter valued at approximately $26,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth $35,000. Brooklyn Investment Group boosted its position in shares of Pinnacle West Capital by 440.0% during the first quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider's stock worth $46,000 after acquiring an additional 396 shares during the last quarter. Finally, HM Payson & Co. boosted its position in shares of Pinnacle West Capital by 49.7% during the first quarter. HM Payson & Co. now owns 590 shares of the utilities provider's stock worth $56,000 after acquiring an additional 196 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.