Pinnacle West Capital (NYSE:PNW)‘s stock had its “hold” rating reiterated by research analysts at Morgan Stanley in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $84.00 price objective on the utilities provider’s stock, up from their previous price objective of $80.00. Morgan Stanley’s price objective indicates a potential upside of 4.44% from the stock’s current price.
A number of other analysts also recently commented on PNW. ValuEngine upgraded Pinnacle West Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reiterated a “hold” rating and set a $88.00 target price on shares of Pinnacle West Capital in a research report on Thursday, December 21st. Williams Capital reiterated a “hold” rating and set a $84.00 target price (down from $87.00) on shares of Pinnacle West Capital in a research report on Monday, January 29th. Finally, Zacks Investment Research downgraded Pinnacle West Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. Pinnacle West Capital has a consensus rating of “Hold” and a consensus target price of $84.58.
Shares of Pinnacle West Capital (NYSE:PNW) traded up $0.15 during mid-day trading on Monday, reaching $80.43. The company had a trading volume of 89,002 shares, compared to its average volume of 839,057. Pinnacle West Capital has a 52-week low of $73.81 and a 52-week high of $92.48. The firm has a market capitalization of $8,960.75, a price-to-earnings ratio of 18.46, a PEG ratio of 5.72 and a beta of 0.27. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.90 and a quick ratio of 0.68.
In other news, EVP David P. Falck sold 4,500 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $89.07, for a total value of $400,815.00. Following the sale, the executive vice president now directly owns 40,838 shares in the company, valued at $3,637,440.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald E. Brandt sold 24,216 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $79.21, for a total value of $1,918,149.36. Following the completion of the sale, the chairman now owns 94,358 shares in the company, valued at $7,474,097.18. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Banced Corp purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at $201,000. Kovack Advisors Inc. purchased a new position in Pinnacle West Capital during the fourth quarter worth about $202,000. Krilogy Financial LLC purchased a new position in Pinnacle West Capital during the third quarter worth about $211,000. Newport Wealth Strategies Inc. purchased a new position in Pinnacle West Capital during the fourth quarter worth about $238,000. Finally, IBM Retirement Fund purchased a new position in Pinnacle West Capital during the fourth quarter worth about $281,000. Institutional investors and hedge funds own 82.05% of the company’s stock.
About Pinnacle West Capital
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.
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