Pinnacle West Capital (PNW) Given “Hold” Rating at Williams Capital

Pinnacle West Capital (NYSE:PNW)‘s stock had its “hold” rating restated by stock analysts at Williams Capital in a research report issued on Monday, Marketbeat Ratings reports. They presently have a $84.00 price objective on the utilities provider’s stock, down from their previous price objective of $87.00. Williams Capital’s price target would indicate a potential upside of 5.33% from the stock’s current price.

A number of other research analysts have also commented on PNW. Zacks Investment Research lowered shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. SunTrust Banks set a $84.00 price objective on shares of Pinnacle West Capital and gave the company a “hold” rating in a research note on Monday, January 22nd. Bank of America began coverage on shares of Pinnacle West Capital in a research note on Tuesday, October 24th. They set a “neutral” rating and a $89.00 price objective on the stock. 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 note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $86.78.

Shares of Pinnacle West Capital (PNW) traded down $1.19 during trading hours on Monday, hitting $79.75. 149,978 shares of the company’s stock traded hands, compared to its average volume of 681,914. Pinnacle West Capital has a 12 month low of $75.79 and a 12 month high of $92.48. The firm has a market capitalization of $9,043.41, a price-to-earnings ratio of 17.22, a P/E/G ratio of 5.78 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 quarterly earnings results on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, beating 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $2.35 earnings per share. Pinnacle West Capital’s revenue was up 1.4% compared to the same quarter last year. sell-side analysts anticipate that Pinnacle West Capital will post 4.26 EPS for the current fiscal year.

In related news, EVP David P. Falck sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 40,838 shares in the company, valued at $3,637,440.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Gallagher sold 2,012 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 12,786 shares of the company’s stock, valued at $1,142,684.82. The disclosure for this sale can be found here. Insiders have sold 48,881 shares of company stock valued at $4,124,196 over the last 90 days. 0.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Veritable L.P. boosted its stake in Pinnacle West Capital by 1.3% in the 2nd quarter. Veritable L.P. now owns 3,136 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 40 shares during the period. Sentry Investment Management LLC boosted its stake in Pinnacle West Capital by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 8,646 shares of the utilities provider’s stock worth $736,000 after purchasing an additional 92 shares during the period. Thrivent Financial For Lutherans boosted its stake in Pinnacle West Capital by 2.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,837 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 130 shares during the period. Advisory Services Network LLC boosted its stake in Pinnacle West Capital by 10.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,595 shares of the utilities provider’s stock worth $391,000 after purchasing an additional 420 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Pinnacle West Capital by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 274,348 shares of the utilities provider’s stock worth $23,200,000 after purchasing an additional 686 shares during the period. 82.75% of the stock is owned by hedge funds and other 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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