Pinnacle West Capital Co. (NYSE:PNW) Given Consensus Rating of “Hold” by Brokerages

Shares of Pinnacle West Capital Co. (NYSE:PNW) have been given an average recommendation of “Hold” by the twelve brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $85.21.

PNW has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Finally, Citigroup boosted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $87.10 on Friday. The stock has a 50-day simple moving average of $86.84 and a 200 day simple moving average of $87.64. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 3.44 and a beta of 0.57. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital has a 12-month low of $65.20 and a 12-month high of $95.42.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.11%. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Institutional Investors Weigh In On Pinnacle West Capital

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in shares of Pinnacle West Capital by 75.3% during the second quarter. Millennium Management LLC now owns 237,744 shares of the utilities provider’s stock worth $18,159,000 after acquiring an additional 102,134 shares during the period. Creative Planning lifted its holdings in shares of Pinnacle West Capital by 36.9% in the second quarter. Creative Planning now owns 23,444 shares of the utilities provider’s stock valued at $1,791,000 after purchasing an additional 6,322 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Pinnacle West Capital by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,325 shares of the utilities provider’s stock worth $483,000 after buying an additional 440 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Pinnacle West Capital during the second quarter worth about $372,000. Finally, Czech National Bank raised its position in Pinnacle West Capital by 6.9% in the 3rd quarter. Czech National Bank now owns 23,133 shares of the utilities provider’s stock valued at $2,049,000 after buying an additional 1,494 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

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.