Pinnacle West Capital Corporation (NYSE:PNW)‘s stock had its “hold” rating reaffirmed by stock analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They currently have a $89.00 price target on the utilities provider’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 1.59% from the stock’s previous close.

Several other research analysts have also commented on the company. BidaskClub raised Pinnacle West Capital Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Morgan Stanley boosted their price objective on Pinnacle West Capital Corporation from $79.00 to $83.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. BMO Capital Markets reissued a “hold” rating and set a $89.00 price objective on shares of Pinnacle West Capital Corporation in a report on Friday, August 4th. Finally, Zacks Investment Research raised Pinnacle West Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $81.89.

Pinnacle West Capital Corporation (NYSE:PNW) opened at 90.44 on Tuesday. The company’s 50-day moving average is $87.42 and its 200 day moving average is $85.18. The company has a market capitalization of $10.10 billion, a P/E ratio of 19.97 and a beta of 0.37. Pinnacle West Capital Corporation has a one year low of $70.86 and a one year high of $90.47.

Pinnacle West Capital Corporation (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $921.79 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Pinnacle West Capital Corporation’s revenue was up 3.2% on a year-over-year basis. Analysts predict that Pinnacle West Capital Corporation will post $4.26 EPS for the current year.

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In related news, EVP David P. Falck sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $89.98, for a total value of $413,908.00. Following the completion of the sale, the executive vice president now owns 42,840 shares in the company, valued at approximately $3,854,743.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald E. Brandt sold 35,013 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $89.57, for a total value of $3,136,114.41. Following the completion of the sale, the chairman now owns 118,574 shares of the company’s stock, valued at approximately $10,620,673.18. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its stake in Pinnacle West Capital Corporation by 2.0% in the first quarter. Retirement Systems of Alabama now owns 53,819 shares of the utilities provider’s stock worth $4,487,000 after buying an additional 1,063 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Pinnacle West Capital Corporation during the first quarter worth $1,854,000. Mn Services Vermogensbeheer B.V. increased its stake in Pinnacle West Capital Corporation by 5.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,968 shares of the utilities provider’s stock worth $231,000 after buying an additional 148 shares during the last quarter. Korea Investment CORP increased its stake in Pinnacle West Capital Corporation by 2.2% in the first quarter. Korea Investment CORP now owns 106,700 shares of the utilities provider’s stock worth $8,897,000 after buying an additional 2,300 shares during the last quarter. Finally, Strs Ohio increased its stake in Pinnacle West Capital Corporation by 8.6% in the first quarter. Strs Ohio now owns 18,588 shares of the utilities provider’s stock worth $1,549,000 after buying an additional 1,468 shares during the last quarter. Institutional investors own 84.18% of the company’s stock.

About Pinnacle West Capital Corporation

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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