UBS Group Issues Positive Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW - Free Report) had its price target raised by UBS Group from $96.00 to $98.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the utilities provider's stock.

A number of other equities analysts have also recently commented on PNW. Morgan Stanley lowered their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating for the company in a report on Thursday, May 22nd. Barclays raised their target price on Pinnacle West Capital from $87.00 to $94.00 and gave the company an "equal weight" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their target price 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. LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Finally, 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 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $96.89.

Pinnacle West Capital Trading Down 0.4%

Shares of NYSE PNW traded down $0.33 during mid-day trading on Friday, reaching $91.01. 731,717 shares of the company's stock were exchanged, compared to its average volume of 1,138,820. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 9.48 and a beta of 0.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.34 and a current ratio of 0.50. Pinnacle West Capital has a 52-week low of $79.33 and a 52-week high of $96.50. The company's 50-day moving average is $90.33 and its 200-day moving average is $90.13.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $988.95 million. Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. Analysts expect that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 1st will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, August 1st. Pinnacle West Capital's dividend payout ratio (DPR) is presently 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in shares of Pinnacle West Capital by 18.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,213 shares of the utilities provider's stock worth $287,000 after acquiring an additional 498 shares in the last quarter. Perpetual Ltd increased its position in Pinnacle West Capital by 5.3% during the second quarter. Perpetual Ltd now owns 419,686 shares of the utilities provider's stock worth $37,549,000 after buying an additional 21,231 shares during the period. International Private Wealth Advisors LLC acquired a new position in Pinnacle West Capital during the second quarter worth approximately $271,000. IFM Investors Pty Ltd increased its position in Pinnacle West Capital by 6.5% during the second quarter. IFM Investors Pty Ltd now owns 8,608 shares of the utilities provider's stock worth $770,000 after buying an additional 523 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in Pinnacle West Capital during the second quarter worth approximately $455,000. Institutional investors and hedge funds own 91.51% of the company's stock.

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.