Pinnacle West Capital Corporation (NYSE:PNW)‘s stock had its “hold” rating restated by research analysts at SunTrust Banks, Inc. in a research report issued on Monday. They presently have a $88.00 target price on the utilities provider’s stock. SunTrust Banks, Inc.’s target price suggests a potential downside of 1.02% from the stock’s previous close.

A number of other research analysts have also weighed in on PNW. Zacks Investment Research lowered Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $89.00 target price on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Finally, Morgan Stanley lifted their target price on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $86.40.

Pinnacle West Capital Corporation (NYSE:PNW) traded down 0.62% during trading on Monday, hitting $88.36. 209,053 shares of the company traded hands. The stock has a 50 day moving average price of $87.28 and a 200 day moving average price of $87.03. Pinnacle West Capital Corporation has a 12-month low of $70.86 and a 12-month high of $90.92. The company has a market capitalization of $9.86 billion, a P/E ratio of 19.51 and a beta of 0.36.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. The business had revenue of $944.59 million for the quarter, compared to analysts’ expectations of $921.79 million. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, equities analysts anticipate that Pinnacle West Capital Corporation will post $4.27 earnings per share for the current year.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Northwest Investment Counselors LLC purchased a new stake in Pinnacle West Capital Corporation in the second quarter worth approximately $106,000. WealthTrust Arizona LLC boosted 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 purchased a new stake in Pinnacle West Capital Corporation in the second quarter worth approximately $109,000. Parallel Advisors LLC boosted 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 worth $186,000 after buying an additional 75 shares in the last quarter. Finally, Pacer Advisors Inc. boosted 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 worth $193,000 after buying an additional 174 shares in the last quarter. 84.27% of the stock is 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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