Brokerages Set Pinnacle West Capital Co. (NYSE:PNW) PT at $84.65

Pinnacle West Capital Co. (NYSE:PNW) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $84.65.

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

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds have recently modified their holdings of PNW. Blue Trust Inc. boosted its position in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 291 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Pinnacle West Capital by 124.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock valued at $38,000 after buying an additional 238 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 3rd quarter worth approximately $43,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 2nd quarter worth approximately $52,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Pinnacle West Capital by 20.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $87.55 on Thursday. The business’s 50 day moving average price is $89.67 and its 200-day moving average price is $85.47. Pinnacle West Capital has a fifty-two week low of $65.20 and a fifty-two week high of $95.42. The company has a market cap of $9.95 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.10 and a beta of 0.54. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 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.