Pinnacle West Capital (NYSE:PNW) Sets New 12-Month High – Should You Buy?

Pinnacle West Capital Co. (NYSE:PNW)’s stock price hit a new 52-week high on Monday . The stock traded as high as $95.75 and last traded at $95.16, with a volume of 54390 shares trading hands. The stock had previously closed at $94.17.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Guggenheim reissued a “buy” rating and issued a $100.00 target price on shares of Pinnacle West Capital in a report on Wednesday, February 26th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price target on the stock in a research note on Wednesday, December 4th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Citigroup raised their target price on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Pinnacle West Capital Trading Down 0.0 %

The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.59 and a beta of 0.53. The business has a 50-day moving average of $90.60 and a 200-day moving average of $89.04. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently made changes to their positions in PNW. 111 Capital acquired a new position in Pinnacle West Capital in the 4th quarter valued at about $340,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pinnacle West Capital by 26.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,775 shares of the utilities provider’s stock valued at $2,524,000 after purchasing an additional 6,183 shares during the last quarter. Probity Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 2.7% in the fourth quarter. Probity Advisors Inc. now owns 6,056 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 159 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth approximately $1,453,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Pinnacle West Capital by 301.6% during the fourth quarter. Mackenzie Financial Corp now owns 17,142 shares of the utilities provider’s stock worth $1,453,000 after purchasing an additional 12,874 shares during the period. 91.51% of the stock is owned by hedge funds and other 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.