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UBS Group Reiterates "Neutral" Rating for Pinnacle West Capital (NYSE:PNW)

Pinnacle West Capital logo with Utilities background

UBS Group reissued their neutral rating on shares of Pinnacle West Capital (NYSE:PNW - Free Report) in a report issued on Friday morning, MarketBeat Ratings reports. UBS Group currently has a $98.00 price target on the utilities provider's stock, up from their prior price target of $96.00.

A number of other equities analysts also recently commented on the stock. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a "hold" rating in a report on Friday, May 9th. Barclays increased their price target on 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. Wells Fargo & Company increased their price target on Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. BMO Capital Markets began coverage on shares of Pinnacle West Capital in a research note on Tuesday, May 13th. They set a "market perform" rating and a $95.00 target price for the company. Finally, Wall Street Zen lowered shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital has an average rating of "Hold" and an average target price of $96.89.

View Our Latest Stock Report on Pinnacle West Capital

Pinnacle West Capital Price Performance

NYSE PNW traded up $0.28 during trading hours on Friday, reaching $91.32. The company's stock had a trading volume of 793,679 shares, compared to its average volume of 1,137,439. Pinnacle West Capital has a fifty-two week low of $79.33 and a fifty-two week high of $96.50. The stock has a market cap of $10.90 billion, a PE ratio of 18.16, a PEG ratio of 9.48 and a beta of 0.42. The company's 50-day moving average is $90.33 and its two-hundred day moving average is $90.17. 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 (NYSE:PNW - Get Free Report) last issued 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). Pinnacle West Capital had a net margin of 11.28% and a return on equity of 8.78%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same period in the prior year, the business posted $0.15 EPS. The business's revenue was up 8.5% on a year-over-year basis. Analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 1st will be given 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 3.92%. Pinnacle West Capital's dividend payout ratio (DPR) is 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in Pinnacle West Capital in the first quarter worth approximately $25,000. Costello Asset Management INC acquired a new position in shares of Pinnacle West Capital in the 1st quarter worth approximately $26,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital in the 4th quarter worth approximately $35,000. Brooklyn Investment Group grew its stake in shares of Pinnacle West Capital by 440.0% in the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider's stock worth $46,000 after purchasing an additional 396 shares during the last quarter. Finally, HM Payson & Co. grew its stake in shares of Pinnacle West Capital by 49.7% in the 1st quarter. HM Payson & Co. now owns 590 shares of the utilities provider's stock worth $56,000 after purchasing an additional 196 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle West Capital

(Get Free Report)

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.

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