Pinnacle West Capital Corporation (NYSE:PNW) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Pinnacle West Capital Corporation has received a consensus rating of "Hold" from eleven brokerages, with seven analysts recommending holding the stock and four issuing buy recommendations.
• The company's recent quarterly earnings met analysts' estimates, reporting $1.58 EPS and revenues of $1.36 billion, a 3.8% increase year-over-year.
• Pinnacle West Capital has announced a quarterly dividend of $0.895 per share, resulting in an annualized yield of 4.1%.

Shares of Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) have received a consensus rating of "Hold" from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $96.20.

Several equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of Pinnacle West Capital from $94.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. KeyCorp dropped their price objective on shares of Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. UBS Group dropped their price target on shares of Pinnacle West Capital from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Friday, September 12th. Morgan Stanley set a $89.00 price objective on shares of Pinnacle West Capital and gave the stock an "outperform" rating in a report on Thursday, August 21st. Finally, Mizuho downgraded shares of Pinnacle West Capital from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $102.00 to $90.00 in a report on Tuesday, September 9th.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $92.37, for a total value of $600,035.52. Following the sale, the executive vice president directly owned 56 shares in the company, valued at approximately $5,172.72. The trade was a 99.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinnacle West Capital

A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth approximately $417,000. Ameriprise Financial Inc. lifted its position in Pinnacle West Capital by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 235,036 shares of the utilities provider's stock worth $19,924,000 after purchasing an additional 25,166 shares during the period. Ethic Inc. bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at $251,000. Ensign Peak Advisors Inc lifted its holdings in shares of Pinnacle West Capital by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 31,951 shares of the utilities provider's stock valued at $2,708,000 after acquiring an additional 250 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $614,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Stock Down 0.3%

Shares of Pinnacle West Capital stock traded down $0.24 during trading hours on Friday, hitting $85.87. The company had a trading volume of 995,514 shares, compared to its average volume of 863,272. The company's 50-day moving average is $90.43 and its two-hundred day moving average is $91.20. Pinnacle West Capital has a twelve month low of $81.47 and a twelve month high of $96.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. The company has a market cap of $10.26 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 8.89 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share for the quarter, hitting analysts' consensus estimates of $1.58. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business earned $1.76 EPS. Pinnacle West Capital's quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

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.