Williams Capital reissued their hold rating on shares of Pinnacle West Capital (NYSE:PNW) in a research report report published on Monday, Briefing.com Automated Import reports. They currently have a $97.00 price objective on the utilities provider’s stock, up from their previous price objective of $87.00.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Pinnacle West Capital from a buy rating to a hold rating in a report on Thursday, August 1st. Bank of America upgraded shares of Pinnacle West Capital from a neutral rating to a buy rating and set a $105.00 price objective on the stock in a report on Monday, April 15th. Credit Suisse Group set a $102.00 price objective on shares of Pinnacle West Capital and gave the company a buy rating in a report on Monday, April 22nd. Morgan Stanley lowered shares of Pinnacle West Capital from an equal weight rating to an underweight rating and dropped their price objective for the company from $98.00 to $90.00 in a report on Wednesday, June 12th. Finally, Evercore ISI lowered shares of Pinnacle West Capital from an in-line rating to an underperform rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Pinnacle West Capital presently has an average rating of Hold and a consensus price target of $97.17.

PNW stock opened at $93.78 on Monday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.21 and a beta of 0.15. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 0.92. Pinnacle West Capital has a 12-month low of $77.19 and a 12-month high of $99.81. The company’s fifty day simple moving average is $93.40 and its 200 day simple moving average is $94.04.

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 consensus estimate of $1.43 by ($0.15). The firm had revenue of $869.50 million during the quarter, compared to analyst estimates of $973.16 million. Pinnacle West Capital had a net margin of 13.84% and a return on equity of 9.33%. Pinnacle West Capital’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 EPS. Research analysts expect that Pinnacle West Capital will post 4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.74. Pinnacle West Capital’s dividend payout ratio is currently 64.98%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd raised its holdings in shares of Pinnacle West Capital by 23.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 7,020 shares of the utilities provider’s stock worth $661,000 after acquiring an additional 1,350 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Pinnacle West Capital in the 1st quarter worth about $26,000. BP PLC acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $1,129,000. Wakefield Asset Management LLLP raised its holdings in shares of Pinnacle West Capital by 2.1% in the 1st quarter. Wakefield Asset Management LLLP now owns 10,705 shares of the utilities provider’s stock worth $1,023,000 after acquiring an additional 225 shares during the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Pinnacle West Capital by 1.2% in the 1st quarter. DNB Asset Management AS now owns 18,298 shares of the utilities provider’s stock worth $1,749,000 after acquiring an additional 212 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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