Analysts Set Pinnacle West Capital Co. (NYSE:PNW) Target Price at $84.65

Pinnacle West Capital Co. (NYSE:PNW) has been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $84.65.

PNW has been the subject of several research reports. Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, December 4th. Finally, Jefferies Financial Group started coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price target on the stock.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. ST Germain D J Co. Inc. boosted its holdings in shares of Pinnacle West Capital by 19.0% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,145 shares of the utilities provider’s stock worth $97,000 after purchasing an additional 183 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Pinnacle West Capital by 140.7% during the 4th quarter. Fortitude Family Office LLC now owns 2,946 shares of the utilities provider’s stock valued at $250,000 after buying an additional 1,722 shares during the period. Fortem Financial Group LLC boosted its stake in shares of Pinnacle West Capital by 2.2% during the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after buying an additional 124 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Pinnacle West Capital by 17.3% in the fourth quarter. CWA Asset Management Group LLC now owns 15,467 shares of the utilities provider’s stock worth $1,311,000 after acquiring an additional 2,284 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Pinnacle West Capital in the fourth quarter worth $234,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

PNW opened at $81.75 on Monday. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $95.42. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. The business has a 50 day moving average price of $88.52 and a two-hundred day moving average price of $86.70. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 4.38%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s payout ratio is 67.80%.

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.