Pinnacle West Capital’s (PNW) “Hold” Rating Reaffirmed at Williams Capital

Williams Capital restated their hold rating on shares of Pinnacle West Capital (NYSE:PNW) in a research report sent to investors on Monday morning, Briefing.com Automated Import reports. The firm currently has a $97.00 target price on the utilities provider’s stock, up from their previous target price of $87.00.

A number of other equities analysts have also recently issued reports on PNW. Credit Suisse Group set a $102.00 target price on Pinnacle West Capital and gave the stock a buy rating in a report on Monday, April 22nd. Bank of America upgraded Pinnacle West Capital from a neutral rating to a buy rating and set a $105.00 target price for the company in a report on Monday, April 15th. Zacks Investment Research upgraded Pinnacle West Capital from a hold rating to a buy rating and set a $108.00 target price for the company in a report on Monday, May 20th. Argus upgraded Pinnacle West Capital from a hold rating to a buy rating and set a $102.00 target price for the company in a report on Tuesday, July 30th. Finally, Evercore ISI cut Pinnacle West Capital from an in-line rating to an underperform rating in a report on Friday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Pinnacle West Capital has an average rating of Hold and a consensus price target of $97.17.

PNW stock traded up $0.33 during trading hours on Monday, reaching $92.17. 6,365 shares of the stock were exchanged, compared to its average volume of 1,034,594. The firm’s 50-day simple moving average is $93.63. The company has a market cap of $10.38 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 3.79 and a beta of 0.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.36 and a current ratio of 0.55. Pinnacle West Capital has a 12 month low of $77.19 and a 12 month high of $99.81.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Thursday, August 8th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.43 by ($0.15). The firm had revenue of $869.50 million for the quarter, compared to the consensus estimate of $973.16 million. Pinnacle West Capital had a return on equity of 9.31% and a net margin of 13.84%. Pinnacle West Capital’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. Equities analysts expect that Pinnacle West Capital will post 4.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $0.738 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.20%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 64.98%.

Several hedge funds and other institutional investors have recently made changes to their positions in PNW. Zions Bancorporation N.A. acquired a new stake in Pinnacle West Capital in the 1st quarter valued at about $26,000. Weaver Consulting Group acquired a new stake in Pinnacle West Capital in the 1st quarter valued at about $29,000. Old North State Trust LLC lifted its stake in Pinnacle West Capital by 27.6% in the 2nd quarter. Old North State Trust LLC now owns 721 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 156 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Pinnacle West Capital by 492.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 747 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 621 shares during the last quarter. Finally, Tompkins Financial Corp lifted its stake in Pinnacle West Capital by 21.0% in the 1st quarter. Tompkins Financial Corp now owns 1,300 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

About Pinnacle West Capital

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 generating facilities. The company serves approximately 1.2 million customers.

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Analyst Recommendations for Pinnacle West Capital (NYSE:PNW)

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