Pinnacle West Capital Co. (PNW) Upgraded at ValuEngine

Pinnacle West Capital Co. (NYSE:PNW) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, November 14th.

Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital in a report on Monday, July 24th. Morgan Stanley upped their price target on shares of Pinnacle West Capital from $79.00 to $83.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Bank of America Corporation began coverage on shares of Pinnacle West Capital in a report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price target for the company. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $89.00 price target on shares of Pinnacle West Capital in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $86.70.

Pinnacle West Capital (NYSE:PNW) opened at $89.52 on Tuesday. The stock has a market cap of $10,002.07, a P/E ratio of 19.33, a P/E/G ratio of 6.48 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.90. Pinnacle West Capital has a 1-year low of $72.61 and a 1-year high of $92.48.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a net margin of 14.67% and a return on equity of 10.31%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.35 earnings per share. equities analysts forecast that Pinnacle West Capital will post 4.27 EPS for the current year.

In related news, CEO Donald E. Brandt sold 18,153 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $89.54, for a total transaction of $1,625,419.62. Following the completion of the transaction, the chief executive officer now owns 118,574 shares in the company, valued at $10,617,115.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Gallagher sold 2,012 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.37, for a total transaction of $179,812.44. Following the transaction, the director now owns 12,786 shares of the company’s stock, valued at approximately $1,142,684.82. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in Pinnacle West Capital by 2.8% during the second quarter. Swiss National Bank now owns 405,651 shares of the utilities provider’s stock worth $34,545,000 after purchasing an additional 11,200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Pinnacle West Capital by 4.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 507,078 shares of the utilities provider’s stock worth $43,183,000 after purchasing an additional 20,097 shares during the last quarter. American Century Companies Inc. boosted its holdings in Pinnacle West Capital by 140.6% during the second 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 last quarter. Franklin Resources Inc. boosted its holdings in Pinnacle West Capital by 0.3% during the second quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock worth $167,166,000 after purchasing an additional 5,092 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Pinnacle West Capital by 38.0% during the second quarter. State of Wisconsin Investment Board now owns 82,960 shares of the utilities provider’s stock worth $7,065,000 after purchasing an additional 22,860 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

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Pinnacle West Capital 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.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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