Pinnacle West Capital Corporation (NYSE:PNW) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $81.25.

A number of equities research analysts have weighed in on PNW shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $86.00 price objective on shares of Pinnacle West Capital Corporation in a report on Wednesday, May 17th. Morgan Stanley lowered their price objective on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an “underweight” rating on the stock in a report on Monday, May 8th. BidaskClub raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $89.00 price objective on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th.

In other news, SVP Daniel T. Froetscher sold 2,800 shares of Pinnacle West Capital Corporation stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $87.31, for a total transaction of $244,468.00. Following the completion of the sale, the senior vice president now directly owns 8,568 shares in the company, valued at approximately $748,072.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PNW. WealthTrust Arizona LLC increased its position in shares of Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock valued at $104,000 after buying an additional 9 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Pinnacle West Capital Corporation during the second quarter valued at about $106,000. Captrust Financial Advisors bought a new position in shares of Pinnacle West Capital Corporation during the second quarter valued at about $109,000. Tompkins Financial Corp increased its position in shares of Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock valued at $113,000 after buying an additional 200 shares in the last quarter. Finally, Amica Retiree Medical Trust increased its position in shares of Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock valued at $125,000 after buying an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

Pinnacle West Capital Corporation (PNW) traded up 0.44% during trading on Tuesday, reaching $89.23. The company had a trading volume of 584,541 shares. Pinnacle West Capital Corporation has a 1-year low of $70.86 and a 1-year high of $89.56. The firm has a 50-day moving average of $86.54 and a 200-day moving average of $84.59. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 19.71 and a beta of 0.37.

Pinnacle West Capital Corporation (NYSE:PNW) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a return on equity of 10.20% and a net margin of 14.37%. The company had revenue of $944.59 million for the quarter, compared to analyst estimates of $921.79 million. During the same quarter in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts anticipate that Pinnacle West Capital Corporation will post $4.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.655 per share. The ex-dividend date is Friday, July 28th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.94%. Pinnacle West Capital Corporation’s payout ratio is 57.96%.

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Pinnacle West Capital Corporation Company Profile

Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.

Analyst Recommendations for Pinnacle West Capital Corporation (NYSE:PNW)

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