Pinnacle West Capital (NYSE:PNW)‘s stock had its “hold” rating reiterated by analysts at SunTrust Banks in a report issued on Thursday. They currently have a $80.00 price target on the utilities provider’s stock. SunTrust Banks’ price target indicates a potential upside of 2.60% from the stock’s previous close.
A number of other brokerages also recently weighed in on PNW. Morgan Stanley increased 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 report on Wednesday, December 13th. ValuEngine cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Bank of America cut shares of Pinnacle West Capital from a “neutral” rating to an “underperform” rating and set a $84.00 target price for the company. in a report on Wednesday, January 3rd. Zacks Investment Research cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Finally, Williams Capital reaffirmed a “hold” rating and set a $84.00 target price (down from $87.00) on shares of Pinnacle West Capital in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $84.00.
Pinnacle West Capital (NYSE PNW) opened at $77.97 on Thursday. The firm has a market cap of $8,614.17, a P/E ratio of 17.71, a P/E/G ratio of 5.82 and a beta of 0.31. Pinnacle West Capital has a 52-week low of $73.81 and a 52-week high of $92.48. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 0.93.
Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.09. The company had revenue of $759.65 million for the quarter, compared to the consensus estimate of $773.12 million. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. equities analysts expect that Pinnacle West Capital will post 4.46 EPS for the current year.
In other news, CEO Donald E. Brandt sold 39,083 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $77.23, for a total value of $3,018,380.09. Following the completion of the sale, the chief executive officer now directly owns 88,741 shares of the company’s stock, valued at $6,853,467.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald E. Brandt sold 24,216 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 94,358 shares of the company’s stock, valued at $7,474,097.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,110 shares of company stock valued at $5,300,760. 0.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Banced Corp purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $201,000. Kovack Advisors Inc. purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $202,000. Krilogy Financial LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth $211,000. Newport Wealth Strategies Inc. purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $238,000. Finally, IBM Retirement Fund purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $281,000. 82.65% 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.
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