Pinnacle West Capital (NYSE:PNW) has been assigned a $82.00 price objective by SunTrust Banks in a report issued on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price target points to a potential upside of 3.98% from the stock’s current price.
PNW has been the subject of several other research reports. Zacks Investment Research downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Morgan Stanley boosted their price objective on Pinnacle West Capital from $90.00 to $91.00 and gave the company an “underweight” rating in a report on Wednesday, December 13th. ValuEngine downgraded Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Bank of America downgraded Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 price objective for the company. in a report on Wednesday, January 3rd. Finally, Credit Suisse Group started coverage on Pinnacle West Capital in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Pinnacle West Capital has an average rating of “Hold” and an average price target of $85.80.
Pinnacle West Capital (NYSE PNW) opened at $78.86 on Tuesday. Pinnacle West Capital has a 12 month low of $75.79 and a 12 month high of $92.48. The company has a quick ratio of 0.68, a current ratio of 0.90 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $8,851.23, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 5.66 and a beta of 0.38.
Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 10.31% and a net margin of 14.67%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 earnings per share. equities research analysts anticipate that Pinnacle West Capital will post 4.28 EPS for the current year.
In related news, CEO Donald E. Brandt sold 18,153 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $89.54, for a total transaction of $1,625,419.62. Following the completion of the sale, the chief executive officer now owns 118,574 shares in the company, valued at $10,617,115.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 40,838 shares of the company’s stock, valued at approximately $3,637,440.66. The disclosure for this sale can be found here. Insiders have sold 24,665 shares of company stock valued at $2,206,047 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in PNW. AXA grew its holdings in Pinnacle West Capital by 6.5% during the second quarter. AXA now owns 19,620 shares of the utilities provider’s stock worth $1,671,000 after buying an additional 1,200 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Pinnacle West Capital by 1.1% during the second quarter. Alliancebernstein L.P. now owns 345,263 shares of the utilities provider’s stock worth $29,403,000 after buying an additional 3,747 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Pinnacle West Capital during the second quarter worth $238,000. Nationwide Fund Advisors grew its holdings in Pinnacle West Capital by 6.4% during the second quarter. Nationwide Fund Advisors now owns 200,740 shares of the utilities provider’s stock worth $17,095,000 after buying an additional 11,995 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in Pinnacle West Capital by 32.1% during the second quarter. Profund Advisors LLC now owns 11,661 shares of the utilities provider’s stock worth $993,000 after buying an additional 2,831 shares in the last quarter. Institutional investors and hedge funds own 82.74% 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.
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