Pinnacle West Capital (PNW) Given a $84.00 Price Target at SunTrust Banks

Pinnacle West Capital (NYSE:PNW) has been assigned a $84.00 price target by analysts at SunTrust Banks in a research note issued on Monday. The firm presently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ target price would suggest a potential upside of 6.38% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Pinnacle West Capital in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 price objective for the company. Zacks Investment Research upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research report on Monday, January 15th. ValuEngine upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley raised their price objective on shares of Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $86.22.

Shares of Pinnacle West Capital (NYSE:PNW) traded down $0.12 on Monday, hitting $78.96. 683,730 shares of the stock traded hands, compared to its average volume of 610,146. Pinnacle West Capital has a twelve month low of $75.79 and a twelve month high of $92.48. The firm has a market capitalization of $8,820.00, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 5.65 and a beta of 0.38. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Friday, November 3rd. The utilities provider reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. Pinnacle West Capital had a net margin of 14.67% and a return on equity of 10.31%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. sell-side analysts forecast that Pinnacle West Capital will post 4.28 earnings per share for the current fiscal year.

In other Pinnacle West Capital news, CEO Donald E. Brandt sold 18,153 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $89.54, for a total value of $1,625,419.62. Following the completion of the transaction, the chief executive officer now directly owns 118,574 shares of the company’s stock, valued at $10,617,115.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David P. Falck sold 4,500 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.07, for a total transaction of $400,815.00. Following the completion of the transaction, the executive vice president now directly owns 40,838 shares of the company’s stock, valued at $3,637,440.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,665 shares of company stock valued at $2,206,047. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of 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 worth $1,002,686,000 after purchasing an additional 496,727 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Pinnacle West Capital by 27.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,351,968 shares of the utilities provider’s stock worth $285,454,000 after purchasing an additional 716,993 shares in the last quarter. Boston Partners increased its stake in shares of Pinnacle West Capital by 37.6% during the 3rd quarter. Boston Partners now owns 2,824,466 shares of the utilities provider’s stock worth $238,837,000 after purchasing an additional 771,900 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Pinnacle West Capital by 3.8% during the 3rd quarter. American Century Companies Inc. now owns 2,610,779 shares of the utilities provider’s stock worth $220,767,000 after purchasing an additional 94,914 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Pinnacle West Capital 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 in the last quarter. 82.64% of the stock is owned by institutional investors.

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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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