SunTrust Banks Reiterates $81.00 Price Target for Pinnacle West Capital (PNW)

Pinnacle West Capital (NYSE:PNW) received a $81.00 target price from investment analysts at SunTrust Banks in a research report issued on Monday. The firm presently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price objective points to a potential upside of 6.58% from the stock’s previous close.

A number of other research firms also recently issued reports on PNW. Morgan Stanley lifted their target price on Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Bank of America assumed coverage on Pinnacle West Capital in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $89.00 target price on the stock. ValuEngine raised Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday, October 26th. Finally, Williams Capital reissued a “hold” rating and set a $84.00 price target (down previously from $87.00) on shares of Pinnacle West Capital in a research report on Monday, January 29th. Two 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’s stock. The company presently has an average rating of “Hold” and an average price target of $85.90.

Pinnacle West Capital (NYSE PNW) traded down $0.29 during trading hours on Monday, hitting $76.00. The company had a trading volume of 110,565 shares, compared to its average volume of 773,253. The company has a current ratio of 0.90, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $8,523.87, a P/E ratio of 16.41, a P/E/G ratio of 5.45 and a beta of 0.27. Pinnacle West Capital has a twelve month low of $73.81 and a twelve month high of $92.48.

In other Pinnacle West Capital news, Chairman Donald E. Brandt sold 24,216 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $79.21, for a total transaction of $1,918,149.36. Following the transaction, the chairman now owns 94,358 shares of the company’s stock, valued at $7,474,097.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David P. Falck sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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 approximately $3,637,440.66. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Suntrust Banks Inc. boosted its holdings in shares of Pinnacle West Capital by 7.6% during the fourth quarter. Suntrust Banks Inc. now owns 29,799 shares of the utilities provider’s stock worth $2,537,000 after acquiring an additional 2,111 shares during the period. American International Group Inc. boosted its holdings in shares of Pinnacle West Capital by 14.9% during the fourth quarter. American International Group Inc. now owns 38,245 shares of the utilities provider’s stock worth $3,258,000 after acquiring an additional 4,964 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Pinnacle West Capital by 13.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 482,625 shares of the utilities provider’s stock worth $41,110,000 after acquiring an additional 56,873 shares during the period. BlackRock Inc. boosted its holdings in shares of Pinnacle West Capital by 1.0% during the fourth quarter. BlackRock Inc. now owns 11,348,077 shares of the utilities provider’s stock worth $966,629,000 after acquiring an additional 114,132 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Pinnacle West Capital by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,227,699 shares of the utilities provider’s stock worth $104,574,000 after acquiring an additional 14,615 shares during the period. Institutional investors own 82.54% 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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