Pinnacle West Capital (NYSE: PNW) recently received a number of ratings updates from brokerages and research firms:

  • 9/21/2018 – Pinnacle West Capital had its price target lowered by analysts at Morgan Stanley from $89.00 to $85.00. They now have a “hold” rating on the stock.
  • 9/16/2018 – Pinnacle West Capital was upgraded by analysts at Wells Fargo & Co to a “buy” rating. They now have a $90.00 price target on the stock, up previously from $88.00.
  • 9/12/2018 – Pinnacle West Capital was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Year to date loss in Pinnacle West Capital's shares were wider than its industry's decline. Pinnacle West Capital is subject to comprehensive regulations by federal, state and local regulatory agencies. Its operations are subject to fluctuations in the commodity price and weather, as well as operational hazards. The company is well positioned to gain from the ongoing economic improvement in its service territories and customer growth. Pinnacle West Capital’s long-term capital expenditure plan will further strengthen its capabilities. The company is also investing in battery storage projects, which will make its renewable projects more effective.”
  • 9/11/2018 – Pinnacle West Capital had its price target raised by analysts at Morgan Stanley from $85.00 to $89.00. They now have a “hold” rating on the stock.
  • 8/10/2018 – Pinnacle West Capital had its price target raised by analysts at UBS Group AG from $79.00 to $83.00. They now have a “neutral” rating on the stock.
  • 8/6/2018 – Pinnacle West Capital was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating.

Shares of PNW stock traded up $0.83 during mid-day trading on Thursday, hitting $78.24. The company’s stock had a trading volume of 31,350 shares, compared to its average volume of 884,961. Pinnacle West Capital Co. has a 52-week low of $73.41 and a 52-week high of $92.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.50 and a quick ratio of 0.36. The stock has a market capitalization of $8.75 billion, a P/E ratio of 17.99, a P/E/G ratio of 3.93 and a beta of 0.13.

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

A number of institutional investors have recently bought and sold shares of PNW. Piedmont Investment Advisors LLC purchased a new stake in Pinnacle West Capital during the second quarter valued at $106,000. Point72 Asia Hong Kong Ltd purchased a new stake in Pinnacle West Capital during the first quarter valued at $151,000. Dupont Capital Management Corp increased its position in Pinnacle West Capital by 223.9% during the second quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 1,339 shares during the last quarter. Synovus Financial Corp increased its position in Pinnacle West Capital by 252.7% during the second quarter. Synovus Financial Corp now owns 2,000 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 1,433 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Pinnacle West Capital during the first quarter valued at $201,000. Institutional investors own 81.98% of the company’s stock.

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.

See Also: Ex-Dividend

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