Pinnacle West Capital (NYSE:PNW) Given a $82.00 Price Target by SunTrust Banks Analysts

SunTrust Banks set a $82.00 price objective on Pinnacle West Capital (NYSE:PNW) in a research note published on Thursday, March 15th. The brokerage currently has a hold rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Pinnacle West Capital from a buy rating to a hold rating in a research report on Wednesday, March 14th. Royal Bank of Canada restated a neutral rating on shares of Pinnacle West Capital in a report on Thursday, February 1st. Morgan Stanley restated a hold rating and set a $84.00 price objective (up previously from $80.00) on shares of Pinnacle West Capital in a report on Monday, February 26th. UBS began coverage on shares of Pinnacle West Capital in a report on Friday, February 2nd. They set a neutral rating and a $81.00 price objective on the stock. Finally, Williams Capital restated a hold rating and set a $84.00 price objective (down previously from $87.00) on shares of Pinnacle West Capital in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Pinnacle West Capital presently has a consensus rating of Hold and an average target price of $84.36.

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Pinnacle West Capital stock traded down $0.55 on Thursday, reaching $79.75. 1,035,171 shares of the stock were exchanged, compared to its average volume of 943,942. The firm has a market cap of $8,916.05, a price-to-earnings ratio of 18.33, a P/E/G ratio of 6.03 and a beta of 0.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61. Pinnacle West Capital has a twelve month low of $73.81 and a twelve month high of $92.48.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Friday, February 23rd. The utilities provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.09. The firm had revenue of $759.65 million during the quarter, compared to analyst estimates of $773.12 million. Pinnacle West Capital had a net margin of 13.70% and a return on equity of 9.59%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. sell-side analysts expect that Pinnacle West Capital will post 4.46 earnings per share for the current year.

In other Pinnacle West Capital news, VP John S. Hatfield sold 2,145 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $76.14, for a total value of $163,320.30. Following the transaction, the vice president now directly owns 1,443 shares in the company, valued at $109,870.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathryn L. Munro sold 2,666 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $75.36, for a total transaction of $200,909.76. Following the completion of the transaction, the director now owns 15,630 shares in the company, valued at $1,177,876.80. The disclosure for this sale can be found here. In the last three months, insiders sold 68,110 shares of company stock worth $5,300,760. 0.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its holdings in Pinnacle West Capital by 5.5% in the third quarter. Nationwide Fund Advisors now owns 211,872 shares of the utilities provider’s stock valued at $17,916,000 after buying an additional 11,132 shares during the period. State of Wisconsin Investment Board lifted its holdings in Pinnacle West Capital by 7.4% in the third quarter. State of Wisconsin Investment Board now owns 89,116 shares of the utilities provider’s stock valued at $7,536,000 after buying an additional 6,156 shares during the period. Swiss National Bank lifted its holdings in Pinnacle West Capital by 1.3% in the third quarter. Swiss National Bank now owns 410,851 shares of the utilities provider’s stock valued at $34,742,000 after buying an additional 5,200 shares during the period. Global X MANAGEMENT CO LLC lifted its holdings in Pinnacle West Capital by 17.8% in the third quarter. Global X MANAGEMENT CO LLC now owns 6,662 shares of the utilities provider’s stock valued at $563,000 after buying an additional 1,008 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Pinnacle West Capital by 1.5% in the third quarter. New York State Common Retirement Fund now owns 235,900 shares of the utilities provider’s stock valued at $19,948,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 82.64% of the company’s stock.

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About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves approximately 1.2 million homes and businesses.

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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