Pinnacle West Capital (NYSE:PNW) Given a $72.00 Price Target at Evercore ISI

Evercore ISI set a $72.00 target price on Pinnacle West Capital (NYSE:PNWGet Rating) in a research note published on Thursday morning, Stock Target Advisor reports.

A number of other brokerages have also recently weighed in on PNW. KeyCorp dropped their price objective on shares of Pinnacle West Capital from $62.00 to $56.00 and set an underweight rating for the company in a report on Thursday, October 20th. Morgan Stanley upped their price objective on Pinnacle West Capital from $62.00 to $67.00 and gave the stock an equal weight rating in a research report on Friday, November 11th. Guggenheim upgraded Pinnacle West Capital from a sell rating to a neutral rating and increased their price objective for the company from $54.00 to $70.00 in a research note on Friday, November 18th. Wolfe Research raised Pinnacle West Capital from an underperform rating to a peer perform rating in a research note on Thursday, November 17th. Finally, Mizuho increased their price target on Pinnacle West Capital from $76.00 to $77.00 and gave the company a neutral rating in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $71.67.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $76.39 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.77. The company has a market cap of $8.64 billion, a P/E ratio of 16.18 and a beta of 0.40. The stock has a 50-day moving average of $68.26 and a two-hundred day moving average of $72.03. Pinnacle West Capital has a 1-year low of $59.03 and a 1-year high of $80.51.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.865 per share. The ex-dividend date is Monday, October 31st. This represents a $3.46 dividend on an annualized basis and a yield of 4.53%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.85. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 73.31%.

Insider Transactions at Pinnacle West Capital

In related news, Director Kathryn L. Munro sold 2,468 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $76.99, for a total value of $190,011.32. Following the transaction, the director now directly owns 16,180 shares of the company’s stock, valued at approximately $1,245,698.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Several institutional investors and hedge funds have recently made changes to their positions in PNW. Janiczek Wealth Management LLC increased its position in Pinnacle West Capital by 83.7% during the second quarter. Janiczek Wealth Management LLC now owns 373 shares of the utilities provider’s stock worth $27,000 after buying an additional 170 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 58.1% in the 1st quarter. First Horizon Advisors Inc. now owns 408 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Prospera Financial Services Inc purchased a new stake in Pinnacle West Capital in the 1st quarter valued at $35,000. Addison Advisors LLC boosted its stake in Pinnacle West Capital by 223.5% during the 3rd quarter. Addison Advisors LLC now owns 537 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 371 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Pinnacle West Capital during the 1st quarter worth $45,000. 86.21% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Company Profile

(Get Rating)

Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co The company was founded on February 20, 1985, and is headquartered in Phoenix, AZ.

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