Pinnacle West Capital Corporation (NYSE:PNW)‘s stock had its “hold” rating reiterated by research analysts at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $84.00 target price on the utilities provider’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential downside of 3.79% from the company’s current price.

PNW has been the subject of several other research reports. BidaskClub upgraded shares of Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Morgan Stanley upped their price target 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. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital Corporation in a research report on Tuesday, August 29th. Finally, Credit Suisse Group started coverage on shares of Pinnacle West Capital Corporation in a research report on Wednesday, September 20th. They issued a “neutral” rating and a $90.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Pinnacle West Capital Corporation currently has an average rating of “Hold” and an average price target of $85.78.

Pinnacle West Capital Corporation (NYSE:PNW) traded up 1.05% during mid-day trading on Thursday, hitting $87.31. 850,969 shares of the stock were exchanged. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 19.28 and a beta of 0.36. Pinnacle West Capital Corporation has a 52-week low of $70.86 and a 52-week high of $90.92. The company has a 50 day moving average price of $87.83 and a 200 day moving average price of $86.70.

Pinnacle West Capital Corporation (NYSE:PNW) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The firm had revenue of $944.59 million during the quarter, compared to the consensus estimate of $921.79 million. During the same quarter in the prior year, the firm earned $1.08 EPS. Pinnacle West Capital Corporation’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

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In other news, EVP David P. Falck sold 4,600 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $89.98, for a total transaction of $413,908.00. Following the transaction, the executive vice president now directly owns 42,840 shares of the company’s stock, valued at approximately $3,854,743.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald E. Brandt sold 35,013 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the transaction, the chairman now directly owns 118,574 shares in the company, valued at $10,620,673.18. The disclosure for this sale can be found here. Insiders sold a total of 41,419 shares of company stock worth $3,713,068 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of PNW. BlackRock Inc. grew its stake in shares of Pinnacle West Capital Corporation by 3,579.0% during the 1st quarter. BlackRock Inc. now owns 10,792,256 shares of the utilities provider’s stock worth $899,860,000 after purchasing an additional 10,498,905 shares during the period. Millennium Management LLC grew its stake in shares of Pinnacle West Capital Corporation by 201.3% during the 4th quarter. Millennium Management LLC now owns 3,882,104 shares of the utilities provider’s stock worth $250,318,000 after purchasing an additional 2,593,802 shares during the period. Boston Partners grew its stake in shares of Pinnacle West Capital Corporation by 30,924.3% during the 2nd quarter. Boston Partners now owns 2,052,566 shares of the utilities provider’s stock worth $174,796,000 after purchasing an additional 2,045,950 shares during the period. Janus Henderson Group PLC grew its stake in shares of Pinnacle West Capital Corporation by 11,341.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,838,427 shares of the utilities provider’s stock worth $156,560,000 after purchasing an additional 1,822,359 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Pinnacle West Capital Corporation by 140.6% during the 2nd quarter. American Century Companies Inc. now owns 2,515,865 shares of the utilities provider’s stock worth $214,251,000 after purchasing an additional 1,470,383 shares during the period. 84.20% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Corporation Company Profile

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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