Pinnacle West Capital (NYSE:PNW) had its target price lifted by investment analysts at Morgan Stanley from $90.00 to $91.00 in a research note issued on Wednesday. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 2.11% from the stock’s current price.

Other research analysts have also issued reports about the company. BidaskClub raised Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, September 11th. ValuEngine raised Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reissued a “hold” rating and issued a $91.00 price target on shares of Pinnacle West Capital in a research report on Friday, November 24th. Finally, KeyCorp reissued a “hold” rating on shares of Pinnacle West Capital in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Pinnacle West Capital presently has an average rating of “Hold” and an average target price of $87.20.

Pinnacle West Capital (NYSE PNW) traded down $2.10 on Wednesday, hitting $89.12. The stock had a trading volume of 523,800 shares, compared to its average volume of 673,460. The company has a market cap of $10,000.00, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 6.61 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. Pinnacle West Capital has a 52-week low of $74.46 and a 52-week high of $92.48.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. research analysts forecast that Pinnacle West Capital will post 4.27 earnings per share for the current fiscal year.

In other Pinnacle West Capital news, CEO Donald E. Brandt sold 18,153 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $89.54, for a total transaction of $1,625,419.62. Following the sale, the chief executive officer now owns 118,574 shares in the company, valued at approximately $10,617,115.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Gallagher sold 2,012 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $89.37, for a total value of $179,812.44. Following the sale, the director now owns 12,786 shares in the company, 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.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Pinnacle West Capital by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,774,150 shares of the utilities provider’s stock valued at $1,002,686,000 after purchasing an additional 496,727 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Pinnacle West Capital by 27.2% in the second quarter. Goldman Sachs Group Inc. now owns 3,351,968 shares of the utilities provider’s stock worth $285,454,000 after buying an additional 716,993 shares during the last quarter. Boston Partners boosted its stake in shares of Pinnacle West Capital by 37.6% in the third quarter. Boston Partners now owns 2,824,466 shares of the utilities provider’s stock worth $238,837,000 after buying an additional 771,900 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Pinnacle West Capital by 3.8% in the third quarter. American Century Companies Inc. now owns 2,610,779 shares of the utilities provider’s stock worth $220,767,000 after buying an additional 94,914 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Pinnacle West Capital by 0.3% in the second quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock worth $167,166,000 after buying an additional 5,092 shares during the last quarter. Institutional investors and hedge funds own 82.80% 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.

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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