Pinnacle West Capital Corp. (NYSE:PNW) had its target price upped by research analysts at SunTrust Banks Inc. from $75.00 to $77.00 in a report released on Monday. The brokerage presently has a “neutral” rating on the stock. SunTrust Banks Inc.’s target price indicates a potential downside of 1.92% from the company’s previous close.
PNW has been the topic of several other reports. Royal Bank Of Canada reaffirmed a “sector perfor” rating and set a $69.00 target price (down from $73.00) on shares of Pinnacle West Capital Corp. in a report on Monday, June 20th. Williams Capital reaffirmed a “hold” rating and set a $79.00 target price (up from $58.00) on shares of Pinnacle West Capital Corp. in a report on Tuesday, August 30th. BMO Capital Markets reaffirmed a “hold” rating on shares of Pinnacle West Capital Corp. in a report on Monday, July 18th. Zacks Investment Research lowered Pinnacle West Capital Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Mizuho lifted their price objective on Pinnacle West Capital Corp. from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $71.70.
Pinnacle West Capital Corp. (NYSE:PNW) opened at 78.51 on Monday. Pinnacle West Capital Corp. has a 52-week low of $60.70 and a 52-week high of $82.78. The stock’s 50 day moving average price is $76.59 and its 200 day moving average price is $75.91. The firm has a market capitalization of $8.73 billion, a PE ratio of 20.73 and a beta of 0.35.
Pinnacle West Capital Corp. (NYSE:PNW) last announced its earnings results on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.06. The company had revenue of $915.40 million for the quarter, compared to analyst estimates of $915.40 million. Pinnacle West Capital Corp. had a return on equity of 8.94% and a net margin of 12.02%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, analysts predict that Pinnacle West Capital Corp. will post $3.99 EPS for the current fiscal year.
In related news, VP John S. Hatfield sold 4,523 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $75.27, for a total value of $340,446.21. Following the completion of the sale, the vice president now directly owns 2,265 shares of the company’s stock, valued at approximately $170,486.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PNW. Mizuho Asset Management Co. Ltd. raised its stake in shares of Pinnacle West Capital Corp. by 66.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,338 shares of the company’s stock worth $108,000 after buying an additional 534 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Pinnacle West Capital Corp. during the second quarter worth approximately $121,000. Pacad Investment Ltd. bought a new stake in shares of Pinnacle West Capital Corp. during the second quarter worth approximately $154,000. Pacer Advisors Inc. raised its stake in shares of Pinnacle West Capital Corp. by 10.4% in the second quarter. Pacer Advisors Inc. now owns 2,054 shares of the company’s stock worth $166,000 after buying an additional 194 shares in the last quarter. Finally, Cleararc Capital Inc. bought a new stake in shares of Pinnacle West Capital Corp. during the first quarter worth approximately $202,000. 82.65% of the stock is owned by institutional investors and hedge funds.
About Pinnacle West Capital Corp.
Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.
Receive News & Ratings for Pinnacle West Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle West Capital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.