Pinnacle West Capital (NYSE:PNW) research coverage began at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group have assumed coverage on the stock Pinnacle West Capital (NYSE:PNW – Get Free Report) in a research report issued to clients and investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $104.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 16.81% from the company’s previous close.

A number of other brokerages have recently weighed in on PNW. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Barclays cut their price target on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of Pinnacle West Capital from a “neutral” rating to a “buy” rating and boosted their price target for the company from $74.00 to $83.50 in a research note from Thursday, June 6. Finally, StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $80.13, based on data from MarketBeat.com.

Get our latest analysis on PNW

Pinnacle West capital stocks down 1.3%

Shares of NYSE:PNW traded down $1.19 during mid-day trading, hitting $89.03. 1,038,119 shares of the stock traded hands, compared to its average volume of 1,101,715. The company has a market cap of $10.11 billion, a PE ratio of 19.40, a P/E/G ratio of 2.27 and a beta of 0.52. Pinnacle West Capital has a 52 week low of $65.20 and a 52 week high of $91.57. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48, and a current ratio of 0.66. The company’s fifty day simple moving average is $86.08 and its two hundred day simple moving average is $78.73.

Pinnacle West Capital (NYSE:PNW – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company’s quarterly revenue was up 15.7% year over year. During the same period last year, the business earned $0.94 EPS. As a group, research analysts anticipate that Pinnacle West Capital will post 4.77 earnings per share for the current fiscal year.

Insider activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the sale, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 0.23% of shares are owned by corporate insiders.

Hedge funds influence Pinnacle West Capital

Hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC increased its position in shares of Pinnacle West Capital by 3.4% in the first quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after buying an additional 134 shares during the period. First Horizon Advisors Inc. boosted its stake in Pinnacle West Capital by 20.9% in the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 137 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Pinnacle West Capital by 70.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Pinnacle West Capital by 0.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,724 shares of the utilities provider’s stock valued at $1,659,000 after acquiring an additional 199 shares during the period. Finally, SFE Investment Counsel boosted its holdings in shares of Pinnacle West Capital by 1.3% in the second quarter. SFE Investment Counsel now owns 18,430 shares of the utilities provider’s stock worth $1,408,000 after purchasing an additional 245 shares during the period. Institutional investors own 91.51% of the company’s shares.

Pinnacle West Capital Company Profile

(Get a free report)

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electrical 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 generation facilities. Its transportation facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.

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