Pinnacle West Capital (NYSE:PNW) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Pinnacle West Capital (NYSE:PNW - Free Report) in a research report released on Tuesday morning, MarketBeat.com reports. The firm issued a market perform rating and a $95.00 price objective on the utilities provider's stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Barclays upped their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 1st. UBS Group upped their target price on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group dropped their target price 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. Finally, Wells Fargo & Company upped their target price on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of "Hold" and an average target price of $95.75.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW traded up $1.22 on Tuesday, hitting $91.74. The company had a trading volume of 1,059,190 shares, compared to its average volume of 1,120,733. 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 has a 52-week low of $74.45 and a 52-week high of $96.50. The business has a 50 day moving average of $92.87 and a 200 day moving average of $90.05. The company has a market cap of $10.95 billion, a PE ratio of 17.38, a PEG ratio of 3.59 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported ($0.04) earnings per share 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 analyst estimates 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 prior year, the firm earned $0.15 EPS. As a group, equities analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.58 annualized dividend and a yield of 3.90%. Pinnacle West Capital's dividend payout ratio is presently 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. increased its stake in Pinnacle West Capital by 0.9% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider's stock worth $1,163,000 after acquiring an additional 116 shares during the last quarter. Norinchukin Bank The increased its stake in Pinnacle West Capital by 2.7% during the fourth quarter. Norinchukin Bank The now owns 4,398 shares of the utilities provider's stock worth $373,000 after acquiring an additional 117 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Pinnacle West Capital by 1.3% during the first quarter. Exchange Traded Concepts LLC now owns 9,724 shares of the utilities provider's stock worth $926,000 after acquiring an additional 125 shares during the last quarter. Allworth Financial LP increased its stake in Pinnacle West Capital by 19.1% during the first quarter. Allworth Financial LP now owns 780 shares of the utilities provider's stock worth $74,000 after acquiring an additional 125 shares during the last quarter. Finally, New York Life Investment Management LLC increased its stake in Pinnacle West Capital by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider's stock worth $1,264,000 after acquiring an additional 127 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.