Pinnacle West Capital (NYSE:PNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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.”

Several other equities analysts have also weighed in on PNW. ValuEngine upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Morgan Stanley raised their target price on Pinnacle West Capital from $85.00 to $89.00 and gave the company a “hold” rating in a report on Tuesday. UBS Group raised their target price on Pinnacle West Capital from $79.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, Wells Fargo & Co upgraded Pinnacle West Capital from a “market perform” rating to an “outperform” rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.11.

NYSE PNW opened at $80.38 on Wednesday. Pinnacle West Capital has a fifty-two week low of $73.41 and a fifty-two week high of $92.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.36 and a current ratio of 0.50. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 4.01 and a beta of 0.13.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Friday, August 3rd. The utilities provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. Pinnacle West Capital had a return on equity of 9.12% and a net margin of 12.95%. The company had revenue of $974.12 million for the quarter, compared to analyst estimates of $939.59 million. During the same period last year, the company earned $1.49 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. analysts anticipate that Pinnacle West Capital will post 4.44 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. OppenheimerFunds Inc. increased its stake in shares of Pinnacle West Capital by 14.1% in the second quarter. OppenheimerFunds Inc. now owns 5,409 shares of the utilities provider’s stock worth $436,000 after purchasing an additional 668 shares during the period. Neuburgh Advisers LLC increased its stake in shares of Pinnacle West Capital by 1.2% in the first quarter. Neuburgh Advisers LLC now owns 57,920 shares of the utilities provider’s stock worth $4,622,000 after purchasing an additional 672 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Pinnacle West Capital by 1.1% in the first quarter. Riverhead Capital Management LLC now owns 63,932 shares of the utilities provider’s stock worth $5,102,000 after purchasing an additional 686 shares during the period. BB&T Securities LLC increased its stake in shares of Pinnacle West Capital by 19.3% in the second quarter. BB&T Securities LLC now owns 4,293 shares of the utilities provider’s stock worth $345,000 after purchasing an additional 694 shares during the period. Finally, ING Groep NV increased its stake in shares of Pinnacle West Capital by 7.5% in the first quarter. ING Groep NV now owns 11,423 shares of the utilities provider’s stock worth $912,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

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.

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