Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $95.83

Pinnacle West Capital Co. (NYSE:PNW) has been given an average recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $95.75.

A number of analysts have issued reports on PNW shares. BMO Capital Markets started coverage on Pinnacle West Capital in a research report on Tuesday. They issued a “market perform” rating and a $95.00 target price for the company. Morgan Stanley upped their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, February 26th. UBS Group boosted their target price on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, StockNews.com cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, May 5th.

Pinnacle West Capital Stock Down 1.1%

Shares of NYSE PNW opened at $89.08 on Friday. The stock has a market capitalization of $10.64 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.59 and a beta of 0.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital has a 1 year low of $74.45 and a 1 year high of $96.50. The company has a 50-day moving average price of $92.99 and a 200-day moving average price of $90.02.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $988.95 million. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. Pinnacle West Capital’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 EPS. On average, equities research analysts forecast that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 5th will be paid a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Monday, May 5th. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.17%.

Institutional Investors Weigh In On Pinnacle West Capital

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of Pinnacle West Capital by 7.7% during the third quarter. Principal Financial Group Inc. now owns 139,243 shares of the utilities provider’s stock valued at $12,336,000 after purchasing an additional 9,993 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Pinnacle West Capital by 47.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,716 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 3,758 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Pinnacle West Capital by 33.3% in the fourth quarter. Blue Trust Inc. now owns 1,440 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 360 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Pinnacle West Capital by 14.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,284 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 545 shares in the last quarter. Finally, MCF Advisors LLC raised its position in shares of Pinnacle West Capital by 200.6% in the 4th quarter. MCF Advisors LLC now owns 6,154 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 4,107 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.