Pinnacle West Capital (NYSE:PNW)‘s stock had its “hold” rating reaffirmed by stock analysts at SunTrust Banks in a report released on Wednesday, April 11th. They currently have a $82.00 target price on the utilities provider’s stock. SunTrust Banks’ price target points to a potential upside of 5.10% from the stock’s previous close.
A number of other research analysts have also recently commented on PNW. Zacks Investment Research cut shares of Pinnacle West Capital from a “buy” rating to a “hold” rating in a report on Friday, April 6th. UBS assumed coverage on shares of Pinnacle West Capital in a report on Friday, February 2nd. They issued a “neutral” rating and a $81.00 target price for the company. Morgan Stanley upgraded shares of Pinnacle West Capital from an “underweight” rating to an “equal weight” rating and set a $85.00 price objective for the company in a report on Tuesday, February 13th. Finally, Royal Bank of Canada reiterated a “neutral” rating on shares of Pinnacle West Capital in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $84.91.
PNW stock opened at $78.02 on Wednesday. The stock has a market capitalization of $8,797.53, a PE ratio of 17.94, a P/E/G ratio of 5.96 and a beta of 0.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.61. Pinnacle West Capital has a 12 month low of $73.81 and a 12 month high of $92.48.
In other Pinnacle West Capital news, CEO Donald E. Brandt sold 39,083 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $77.23, for a total transaction of $3,018,380.09. Following the completion of the sale, the chief executive officer now owns 88,741 shares of the company’s stock, valued at approximately $6,853,467.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John S. Hatfield sold 2,145 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $76.14, for a total transaction of $163,320.30. Following the sale, the vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $109,870.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,894 shares of company stock valued at $3,382,610. 0.53% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Banced Corp acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $201,000. Kovack Advisors Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $202,000. Newport Wealth Strategies Inc. acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $238,000. IBM Retirement Fund acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $281,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Pinnacle West Capital during the 4th quarter valued at approximately $290,000. 82.65% of the stock is owned by institutional investors and hedge funds.
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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