Pinnacle West Capital (NYSE:PNW) Given Buy Rating at Guggenheim

Pinnacle West Capital (NYSE:PNW)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report issued on Wednesday,Benzinga reports. They currently have a $100.00 price target on the utilities provider’s stock. Guggenheim’s target price points to a potential upside of 8.29% from the company’s previous close.

A number of other research firms have also recently weighed in on PNW. KeyCorp upgraded shares of Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research report on Wednesday, December 4th. Barclays lowered Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $93.00 to $91.00 in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Financial Group lowered their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Morgan Stanley dropped their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.58.

Pinnacle West Capital Trading Down 0.9 %

Shares of NYSE PNW traded down $0.82 during midday trading on Wednesday, hitting $92.34. 177,468 shares of the company traded hands, compared to its average volume of 995,790. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The stock has a 50-day moving average price of $86.39 and a 200 day moving average price of $88.07. The firm has a market cap of $10.50 billion, a P/E ratio of 17.52, a P/E/G ratio of 3.59 and a beta of 0.57. Pinnacle West Capital has a 12-month low of $66.77 and a 12-month high of $95.42.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. As a group, analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors have recently modified their holdings of the company. YANKCOM Partnership acquired a new position in Pinnacle West Capital in the fourth quarter worth about $29,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Pinnacle West Capital in the fourth quarter worth about $35,000. Venturi Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 238 shares during the period. Brown Lisle Cummings Inc. bought a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $38,000. Finally, Roble Belko & Company Inc acquired a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $42,000. Institutional investors own 91.51% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.