UBS Group Forecasts Strong Price Appreciation for Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital (NYSE:PNW) had its price objective upped by UBS Group from $96.00 to $99.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on PNW. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim reiterated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Finally, 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 report on Wednesday, December 4th. Six research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.17.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $93.67 on Friday. The firm has a market cap of $11.16 billion, a PE ratio of 17.74, a P/E/G ratio of 3.59 and a beta of 0.53. The business has a 50-day moving average price of $89.46 and a 200 day moving average price of $88.82. 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 twelve month low of $70.73 and a twelve month high of $95.42.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. Sell-side analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Trading of Pinnacle West Capital

Hedge funds have recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in Pinnacle West Capital during the 4th quarter worth approximately $29,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth $35,000. Brown Lisle Cummings Inc. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $38,000. Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth about $42,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 3rd quarter valued at about $43,000. 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.