Pinnacle West Capital Corp. (PNW) Upgraded at Williams Capital
Pinnacle West Capital Corp. (NYSE:PNW) was upgraded by stock analysts at Williams Capital from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $79.00 target price on the stock. Williams Capital’s price target points to a potential upside of 8.68% from the stock’s previous close.
A number of other brokerages have also recently commented on PNW. Zacks Investment Research upgraded Pinnacle West Capital Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. SunTrust Banks Inc. dropped their price target on Pinnacle West Capital Corp. from $75.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, September 12th. Mizuho increased their price objective on Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Royal Bank Of Canada restated a “sector perfor” rating and issued a $69.00 price objective (down from $73.00) on shares of Pinnacle West Capital Corp. in a report on Monday, June 20th. Finally, BMO Capital Markets restated a “hold” rating on shares of Pinnacle West Capital Corp. in a report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Pinnacle West Capital Corp. has an average rating of “Hold” and a consensus price target of $71.40.
Shares of Pinnacle West Capital Corp. (NYSE:PNW) opened at 72.69 on Monday. The firm has a market capitalization of $8.08 billion, a PE ratio of 19.19 and a beta of 0.33. The company’s 50 day moving average price is $76.03 and its 200-day moving average price is $75.99. Pinnacle West Capital Corp. has a 52 week low of $60.70 and a 52 week high of $82.78.
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Pinnacle West Capital Corp. (NYSE:PNW) last released its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.14 by $0.06. Pinnacle West Capital Corp. had a return on equity of 8.94% and a net margin of 12.02%. The business had revenue of $915.40 million for the quarter, compared to the consensus estimate of $915.40 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Pinnacle West Capital Corp. will post $3.99 EPS for the current fiscal year.
In other Pinnacle West Capital Corp. news, VP John S. Hatfield sold 4,523 shares of Pinnacle West Capital Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $75.27, for a total transaction of $340,446.21. Following the transaction, the vice president now owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of PNW. Mizuho Asset Management Co. Ltd. boosted its position in Pinnacle West Capital Corp. by 66.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,338 shares of the company’s stock valued at $108,000 after buying an additional 534 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Pinnacle West Capital Corp. during the second quarter valued at about $121,000. Pacad Investment Ltd. bought a new stake in shares of Pinnacle West Capital Corp. during the second quarter valued at about $154,000. Pacer Advisors Inc. raised its stake in shares of Pinnacle West Capital Corp. by 10.4% in the second quarter. Pacer Advisors Inc. now owns 2,054 shares of the company’s stock valued at $166,000 after buying an additional 194 shares during the last quarter. Finally, Cleararc Capital Inc. bought a new stake in shares of Pinnacle West Capital Corp. during the first quarter valued at about $202,000. 82.65% of the stock is currently owned by hedge funds and other institutional investors.
About Pinnacle West Capital Corp.
Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.
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