Pinnacle West Capital (NYSE:PNW) Price Target Lowered to $87.00 at Morgan Stanley

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $88.00 to $87.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's target price points to a potential downside of 4.68% from the company's previous close.

PNW has been the subject of a number of other reports. UBS Group lifted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Barclays increased their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 1st. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company increased their price objective on Pinnacle West Capital from $95.00 to $98.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $95.65.

Pinnacle West Capital Stock Up 0.6%

NYSE:PNW traded up $0.52 during trading hours on Thursday, hitting $91.27. 219,417 shares of the company's stock traded hands, compared to its average volume of 1,159,138. Pinnacle West Capital has a twelve month low of $74.45 and a twelve month high of $96.50. The firm has a market cap of $10.90 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock's fifty day moving average price is $92.65 and its two-hundred day moving average price is $90.21.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $988.95 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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