Shares of Pinnacle West Capital Corporation (NYSE:PNW) have been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $85.11.

A number of equities research analysts recently commented on the stock. BidaskClub lowered shares of Pinnacle West Capital Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a report on Monday, July 24th. Morgan Stanley upped their price target on shares of Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. BMO Capital Markets reiterated a “hold” rating and set a $89.00 price target on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Finally, Credit Suisse Group assumed coverage on shares of Pinnacle West Capital Corporation in a report on Wednesday, September 20th. They set a “neutral” rating and a $90.00 price target for the company.

In related news, EVP David P. Falck sold 4,600 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $89.98, for a total value of $413,908.00. Following the completion of the transaction, the executive vice president now directly owns 42,840 shares in the company, valued at approximately $3,854,743.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Donald E. Brandt sold 35,013 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total transaction of $3,136,114.41. Following the completion of the transaction, the chairman now owns 118,574 shares of the company’s stock, valued at $10,620,673.18. The disclosure for this sale can be found here. Insiders sold a total of 41,419 shares of company stock valued at $3,713,068 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its stake in shares of Pinnacle West Capital Corporation by 2.8% in the 2nd quarter. Swiss National Bank now owns 405,651 shares of the utilities provider’s stock worth $34,545,000 after acquiring an additional 11,200 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Pinnacle West Capital Corporation by 4.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 507,078 shares of the utilities provider’s stock worth $43,183,000 after acquiring an additional 20,097 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Pinnacle West Capital Corporation by 140.6% in the 2nd quarter. American Century Companies Inc. now owns 2,515,865 shares of the utilities provider’s stock worth $214,251,000 after acquiring an additional 1,470,383 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Pinnacle West Capital Corporation by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,962,966 shares of the utilities provider’s stock worth $167,166,000 after acquiring an additional 5,092 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of Pinnacle West Capital Corporation by 38.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 82,960 shares of the utilities provider’s stock worth $7,065,000 after acquiring an additional 22,860 shares in the last quarter. Institutional investors own 84.20% of the company’s stock.

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Shares of Pinnacle West Capital Corporation (NYSE PNW) traded up 0.92% during trading on Wednesday, reaching $85.78. 1,026,339 shares of the company were exchanged. The stock has a 50-day moving average price of $88.34 and a 200-day moving average price of $86.62. The stock has a market capitalization of $9.58 billion, a PE ratio of 18.94 and a beta of 0.36. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $90.92.

Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.33. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. The company had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. During the same period in the prior year, the business posted $1.08 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Analysts forecast that Pinnacle West Capital Corporation will post $4.25 EPS for the current year.

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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