Pinnacle West Capital (NYSE:PNW) Stock Rating Upgraded by LADENBURG THALM/SH SH

Pinnacle West Capital (NYSE:PNW) was upgraded by stock analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on PNW. Barclays downgraded shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup upped their price objective on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Finally, KeyCorp raised shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.81.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $93.33 on Monday. Pinnacle West Capital has a 52-week low of $70.73 and a 52-week high of $95.42. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $11.12 billion, a PE ratio of 17.68, a P/E/G ratio of 3.59 and a beta of 0.53. The firm has a 50-day moving average price of $88.79 and a 200 day moving average price of $88.70.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, sell-side analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Pinnacle West Capital by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,180,909 shares of the utilities provider’s stock valued at $1,202,116,000 after purchasing an additional 143,716 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pinnacle West Capital by 0.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,864,993 shares of the utilities provider’s stock valued at $581,945,000 after purchasing an additional 37,768 shares during the period. State Street Corp increased its holdings in shares of Pinnacle West Capital by 0.9% in the 3rd quarter. State Street Corp now owns 6,404,718 shares of the utilities provider’s stock valued at $567,394,000 after purchasing an additional 56,644 shares during the period. Invesco Ltd. increased its holdings in shares of Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the period. Finally, Zimmer Partners LP increased its holdings in Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider’s stock worth $256,882,000 after buying an additional 155,466 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.