Pinnacle West Capital Co. (PNW) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW) have received an average rating of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $85.25.

A number of analysts recently issued reports on the company. SunTrust Banks set a $82.00 price objective on Pinnacle West Capital and gave the stock a “hold” rating in a report on Monday. UBS Group started coverage on Pinnacle West Capital in a report on Friday, February 2nd. They set a “neutral” rating and a $81.00 price objective on the stock. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Pinnacle West Capital in a report on Thursday, February 1st. Williams Capital reaffirmed a “hold” rating and issued a $84.00 price target (down previously from $87.00) on shares of Pinnacle West Capital in a report on Monday, January 29th. Finally, Zacks Investment Research cut Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd.

In related news, Director Michael L. Gallagher sold 2,012 shares of the firm’s stock in a transaction dated 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 directly owns 12,786 shares of the company’s stock, valued at approximately $1,142,684.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David P. Falck sold 4,500 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.07, for a total value of $400,815.00. Following the transaction, the executive vice president now directly owns 40,838 shares in the company, valued at $3,637,440.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,881 shares of company stock worth $4,124,196. Insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banced Corp purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $201,000. Kovack Advisors Inc. purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $202,000. Stock Yards Bank & Trust Co. purchased a new position in shares of Pinnacle West Capital during the 3rd quarter valued at about $205,000. Krilogy Financial LLC bought a new position in Pinnacle West Capital during the 3rd quarter worth approximately $211,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Pinnacle West Capital during the 3rd quarter worth approximately $214,000. 81.89% of the stock is currently owned by institutional investors.

Shares of Pinnacle West Capital (NYSE PNW) opened at $75.16 on Wednesday. The stock has a market capitalization of $8,684.76, a PE ratio of 16.23, a P/E/G ratio of 5.55 and a beta of 0.27. 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 $73.81 and a 1-year high of $92.48.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be issued a $0.695 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.78 annualized dividend and a dividend yield of 3.70%. Pinnacle West Capital’s payout ratio is currently 60.04%.

ILLEGAL ACTIVITY NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The correct version of this article can be read at https://www.americanbankingnews.com/2018/02/07/pinnacle-west-capital-co-pnw-given-consensus-recommendation-of-hold-by-brokerages.html.

About Pinnacle West Capital

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)

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply