Pinnacle West Capital (NYSE:PNW) Downgraded by StockNews.com to “Sell”

Pinnacle West Capital (NYSE:PNW) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

PNW has been the subject of a number of other research reports. LADENBURG THALM/SH SH raised Pinnacle West Capital from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $74.00 to $83.50 in a research report on Thursday, June 6th. Citigroup assumed coverage on Pinnacle West Capital in a research note on Monday, April 29th. They set a “neutral” rating and a $78.00 price target on the stock. UBS Group raised shares of Pinnacle West Capital from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $71.00 in a research report on Monday, March 11th. Barclays dropped their target price on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $75.46.

Pinnacle West Capital Stock Up 1.3 %

Shares of NYSE PNW opened at $78.46 on Tuesday. The firm has a 50-day simple moving average of $76.54 and a two-hundred day simple moving average of $73.11. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $86.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.58 and a quick ratio of 0.42. The company has a market cap of $8.91 billion, a P/E ratio of 17.09, a PEG ratio of 1.95 and a beta of 0.51.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.17. The firm had revenue of $951.71 million during the quarter, compared to analyst estimates of $981.82 million. Pinnacle West Capital had a return on equity of 8.29% and a net margin of 11.09%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Research analysts anticipate that Pinnacle West Capital will post 4.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Empirical Finance LLC grew its position in Pinnacle West Capital by 3.4% during the 1st quarter. Empirical Finance LLC now owns 4,059 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 134 shares during the period. MCF Advisors LLC boosted its stake in shares of Pinnacle West Capital by 9.2% in the fourth quarter. MCF Advisors LLC now owns 2,070 shares of the utilities provider’s stock worth $149,000 after buying an additional 174 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Pinnacle West Capital by 70.6% during 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 in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Pinnacle West Capital by 4.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,921 shares of the utilities provider’s stock valued at $354,000 after purchasing an additional 229 shares during the period. Finally, Prime Capital Investment Advisors LLC boosted its holdings in Pinnacle West Capital by 6.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,083 shares of the utilities provider’s stock worth $293,000 after buying an additional 233 shares in the last quarter. Hedge funds and other 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.