Barclays set a $90.00 price objective on Pinnacle West Capital (NYSE:PNW) in a research note published on Saturday. The brokerage currently has a hold rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Co lowered their price target on shares of Pinnacle West Capital from $90.00 to $87.00 and set a buy rating on the stock in a research note on Sunday, September 30th. Goldman Sachs Group upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating in a research note on Thursday, October 18th. Credit Suisse Group lifted their price target on shares of Pinnacle West Capital from $87.00 to $88.00 and gave the company an outperform rating in a research note on Friday, October 12th. Williams Capital lifted their price target on shares of Pinnacle West Capital from $80.00 to $84.00 and gave the company a hold rating in a research note on Monday, October 15th. Finally, ValuEngine upgraded shares of Pinnacle West Capital from a hold rating to a buy rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Pinnacle West Capital has a consensus rating of Hold and an average price target of $86.00.

PNW opened at $88.30 on Friday. The firm has a market capitalization of $9.90 billion, a P/E ratio of 20.30, a P/E/G ratio of 4.42 and a beta of 0.04. Pinnacle West Capital has a 12 month low of $73.41 and a 12 month high of $92.30. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 0.82.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, November 8th. The utilities provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.75 by $0.05. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Pinnacle West Capital had a net margin of 13.71% and a return on equity of 9.68%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. As a group, equities analysts forecast that Pinnacle West Capital will post 4.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be paid a $0.7375 dividend. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.70. This represents a $2.95 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, October 31st. Pinnacle West Capital’s payout ratio is presently 67.82%.

In other Pinnacle West Capital news, Chairman Donald E. Brandt sold 15,876 shares of Pinnacle West Capital stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $88.59, for a total value of $1,406,454.84. Following the sale, the chairman now directly owns 77,310 shares in the company, valued at approximately $6,848,892.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth about $106,000. First Hawaiian Bank acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth about $152,000. Dupont Capital Management Corp increased its stake in shares of Pinnacle West Capital by 223.9% during the 2nd quarter. Dupont Capital Management Corp now owns 1,937 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 1,339 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Pinnacle West Capital by 252.7% during the 2nd quarter. Synovus Financial Corp now owns 2,000 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 1,433 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Pinnacle West Capital during the 3rd quarter worth about $186,000. Institutional investors own 82.87% 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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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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