Pinnacle West Capital Co. (NYSE:PNW) has received a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $84.00.

A number of research analysts recently issued reports on PNW shares. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $78.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, July 16th. Wells Fargo & Co upgraded shares of Pinnacle West Capital from a “market perform” rating to an “outperform” rating in a research note on Monday, August 6th. UBS Group lifted their price target on shares of Pinnacle West Capital from $79.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Pinnacle West Capital from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Tuesday, June 19th. Finally, ValuEngine downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd.

A number of hedge funds have recently added to or reduced their stakes in PNW. Wells Fargo & Company MN raised its holdings in Pinnacle West Capital by 8.0% during the first quarter. Wells Fargo & Company MN now owns 739,375 shares of the utilities provider’s stock worth $59,002,000 after purchasing an additional 54,608 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Pinnacle West Capital by 46.0% during the first quarter. Neuberger Berman Group LLC now owns 8,759 shares of the utilities provider’s stock worth $745,000 after purchasing an additional 2,758 shares in the last quarter. 6 Meridian raised its holdings in Pinnacle West Capital by 18.3% during the first quarter. 6 Meridian now owns 5,965 shares of the utilities provider’s stock worth $476,000 after purchasing an additional 922 shares in the last quarter. Dean Investment Associates LLC acquired a new stake in Pinnacle West Capital during the first quarter worth approximately $854,000. Finally, Glen Harbor Capital Management LLC raised its holdings in Pinnacle West Capital by 1.2% during the first quarter. Glen Harbor Capital Management LLC now owns 79,640 shares of the utilities provider’s stock worth $6,355,000 after purchasing an additional 924 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Pinnacle West Capital stock traded down $1.19 during trading on Thursday, reaching $78.18. The stock had a trading volume of 748,293 shares, compared to its average volume of 899,750. Pinnacle West Capital has a 52-week low of $73.41 and a 52-week high of $92.48. The company has a quick ratio of 0.36, a current ratio of 0.50 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $8.98 billion, a P/E ratio of 18.22, a P/E/G ratio of 4.03 and a beta of 0.13.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Friday, August 3rd. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. Pinnacle West Capital had a net margin of 12.95% and a return on equity of 9.12%. The company had revenue of $974.12 million during the quarter, compared to the consensus estimate of $939.59 million. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. research analysts anticipate that Pinnacle West Capital will post 4.45 earnings per share for the current fiscal year.

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 resources. The company serves approximately 1.2 million homes and businesses.

Recommended Story: What is the Book Value of a Share?

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.