Pinnacle West Capital (NYSE:PNW) PT Lowered to $87.00

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Pinnacle West Capital (NYSE:PNW) had its price target reduced by equities research analysts at Morgan Stanley from $95.00 to $87.00 in a report issued on Friday, AnalystRatings.com reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 0.71% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Williams Capital reissued a “hold” rating and set a $97.00 target price (up from $87.00) on shares of Pinnacle West Capital in a research note on Monday, August 12th. Bank of America lowered shares of Pinnacle West Capital from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Friday. Wells Fargo & Co reissued a “hold” rating on shares of Pinnacle West Capital in a research note on Friday, August 9th. Zacks Investment Research lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating and set a $99.00 target price on the stock. in a research note on Friday, October 18th. Finally, UBS Group increased their target price on shares of Pinnacle West Capital from $99.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $95.83.

NYSE PNW traded down $1.43 on Friday, hitting $86.39. 1,362,990 shares of the company were exchanged, compared to its average volume of 981,974. The company has a market cap of $10.19 billion, a PE ratio of 19.03, a PEG ratio of 3.11 and a beta of 0.06. Pinnacle West Capital has a 12 month low of $81.63 and a 12 month high of $99.81. The stock has a fifty day moving average of $94.82 and a 200-day moving average of $94.68. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.92.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Thursday, November 7th. The utilities provider reported $2.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.00 by ($0.23). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.25 billion. Pinnacle West Capital had a return on equity of 9.33% and a net margin of 13.84%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 earnings per share. On average, analysts expect that Pinnacle West Capital will post 4.75 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. 6 Meridian raised its holdings in shares of Pinnacle West Capital by 1.9% in the second quarter. 6 Meridian now owns 5,677 shares of the utilities provider’s stock valued at $534,000 after purchasing an additional 107 shares during the last quarter. Silver Lake Advisory LLC raised its holdings in shares of Pinnacle West Capital by 0.7% in the second quarter. Silver Lake Advisory LLC now owns 17,571 shares of the utilities provider’s stock valued at $1,653,000 after purchasing an additional 120 shares during the last quarter. Zacks Investment Management raised its holdings in shares of Pinnacle West Capital by 0.4% in the second quarter. Zacks Investment Management now owns 28,575 shares of the utilities provider’s stock valued at $2,689,000 after purchasing an additional 127 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Pinnacle West Capital by 0.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,340 shares of the utilities provider’s stock worth $1,631,000 after buying an additional 128 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Pinnacle West Capital by 7.6% during the second quarter. Parallel Advisors LLC now owns 1,822 shares of the utilities provider’s stock worth $171,000 after buying an additional 129 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. The company serves approximately 1.2 million customers.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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