Pinnacle West Capital Corporation (PNW) Given Consensus Rating of “Hold” by Brokerages

Pinnacle West Capital Corporation (NYSE:PNW) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $86.00.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Thursday. Bank of America Corporation assumed coverage on shares of Pinnacle West Capital Corporation in a research report on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price objective for the company. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $84.00 price objective on shares of Pinnacle West Capital Corporation in a research report on Thursday, October 12th. Credit Suisse Group assumed coverage on shares of Pinnacle West Capital Corporation in a research report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Pinnacle West Capital Corporation from $83.00 to $86.00 and gave the company an “underweight” rating in a research report on Friday, September 8th.

In related news, EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $89.98, for a total value of $413,908.00. Following the sale, the executive vice president now owns 42,840 shares of the company’s stock, valued at $3,854,743.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn L. Munro sold 1,806 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $90.28, for a total transaction of $163,045.68. Following the completion of the sale, the director now directly owns 17,852 shares in the company, valued at approximately $1,611,678.56. The disclosure for this sale can be found here. In the last three months, insiders sold 41,419 shares of company stock worth $3,713,068. 0.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PNW. Northwest Investment Counselors LLC bought a new stake in Pinnacle West Capital Corporation in the second quarter valued at about $106,000. WealthTrust Arizona LLC increased its stake in Pinnacle West Capital Corporation by 0.7% in the second quarter. WealthTrust Arizona LLC now owns 1,253 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 9 shares during the period. Captrust Financial Advisors bought a new stake in Pinnacle West Capital Corporation in the second quarter valued at about $109,000. Parallel Advisors LLC increased its stake in Pinnacle West Capital Corporation by 3.6% in the second quarter. Parallel Advisors LLC now owns 2,144 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 75 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Pinnacle West Capital Corporation by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,270 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 174 shares during the period. 84.40% of the stock is currently owned by institutional investors and hedge funds.

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Pinnacle West Capital Corporation (NYSE PNW) traded up 0.87% during trading on Friday, reaching $88.91. The company had a trading volume of 550,007 shares. The firm has a 50-day moving average price of $87.28 and a 200 day moving average price of $87.03. The stock has a market cap of $9.92 billion, a P/E ratio of 19.64 and a beta of 0.36. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $90.92.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. The business had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities research analysts predict that Pinnacle West Capital Corporation will post $4.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be paid a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.78 dividend on an annualized basis and a yield of 3.13%. This is a boost from Pinnacle West Capital Corporation’s previous quarterly dividend of $0.66. Pinnacle West Capital Corporation’s payout ratio is presently 57.96%.

About Pinnacle West Capital Corporation

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Analyst Recommendations for Pinnacle West Capital Corporation (NYSE:PNW)

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