Pinnacle West Capital Corporation (NYSE:PNW)‘s stock had its “hold” rating reaffirmed by analysts at KeyCorp in a report released on Friday.

Several other research analysts have also weighed in on PNW. Morgan Stanley lowered their price objective on shares of Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a research note on Monday, May 8th. BMO Capital Markets restated a “hold” rating and set a $86.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Wednesday, May 17th. BidaskClub lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.89.

Shares of Pinnacle West Capital Corporation (PNW) opened at 89.97 on Friday. The company has a market capitalization of $10.04 billion, a PE ratio of 19.87 and a beta of 0.37. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $90.41. The firm’s 50-day moving average is $88.05 and its 200-day moving average is $85.52.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million for 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%. Pinnacle West Capital Corporation’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post $4.26 EPS for the current fiscal year.

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In related news, Chairman Donald E. Brandt sold 35,013 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $89.57, for a total value of $3,136,114.41. Following the transaction, the chairman now owns 118,574 shares in the company, valued at approximately $10,620,673.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kathryn L. Munro sold 1,806 shares of the business’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 of the company’s stock, valued at approximately $1,611,678.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,419 shares of company stock worth $3,713,068. 0.70% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in Pinnacle West Capital Corporation during the second quarter worth 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 worth $107,000 after buying an additional 9 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Pinnacle West Capital Corporation during the second quarter worth about $109,000. Pacer Advisors Inc. increased its stake in Pinnacle West Capital Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,096 shares of the utilities provider’s stock worth $175,000 after buying an additional 66 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Pinnacle West Capital Corporation by 8.9% in the first quarter. Parallel Advisors LLC now owns 2,069 shares of the utilities provider’s stock worth $175,000 after buying an additional 169 shares in the last quarter. 84.18% of the stock is owned by hedge funds and other institutional investors.

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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