Pinnacle West Capital (NYSE:PNW) had its price objective hoisted by Barclays from $89.00 to $103.00 in a research note released on Wednesday, The Fly reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Mizuho began coverage on shares of Pinnacle West Capital in a research note on Wednesday, October 7th. They issued a neutral rating on the stock. ValuEngine cut Pinnacle West Capital from a hold rating to a sell rating in a research note on Thursday, August 27th. Wells Fargo & Company restated a buy rating on shares of Pinnacle West Capital in a report on Thursday, August 6th. Bank of America lowered Pinnacle West Capital from a neutral rating to an underperform rating and set a $78.00 price objective for the company. in a report on Monday, October 12th. Finally, Morgan Stanley increased their price objective on Pinnacle West Capital from $84.00 to $86.00 and gave the stock an equal weight rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Pinnacle West Capital presently has an average rating of Hold and an average price target of $88.25.

PNW opened at $83.25 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.54 and a current ratio of 0.77. Pinnacle West Capital has a 52-week low of $60.05 and a 52-week high of $105.51. The firm has a market cap of $9.37 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 4.78 and a beta of 0.31. The business’s fifty day moving average is $83.57 and its 200-day moving average is $77.72.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.22. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.22 billion. Pinnacle West Capital had a net margin of 17.37% and a return on equity of 10.69%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.77 earnings per share. On average, research analysts predict that Pinnacle West Capital will post 4.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, October 30th. Pinnacle West Capital’s payout ratio is 69.60%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Princeton Global Asset Management LLC raised its position in Pinnacle West Capital by 75.0% in the third quarter. Princeton Global Asset Management LLC now owns 350 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 150 shares during the period. Smithfield Trust Co. increased its stake in shares of Pinnacle West Capital by 189.1% during the 2nd quarter. Smithfield Trust Co. now owns 451 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 295 shares during the last quarter. Brand Asset Management Group Inc. raised its holdings in shares of Pinnacle West Capital by 57.1% in the 3rd quarter. Brand Asset Management Group Inc. now owns 550 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. CVA Family Office LLC purchased a new position in Pinnacle West Capital in the third quarter valued at approximately $44,000. Finally, Mondrian Investment Partners LTD bought a new position in Pinnacle West Capital during the second quarter valued at $47,000. Institutional investors own 83.69% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities consist of approximately 6,192 pole miles of overhead lines and approximately 49 miles of underground lines; and distribution facilities comprise approximately 11,191 miles of overhead lines and approximately 22,092 miles of underground primary cable.

Further Reading: Hedge Funds – Risk or Reward?

The Fly

Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

Receive News & Ratings for Pinnacle West Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital and related companies with MarketBeat.com's FREE daily email newsletter.