UBS Group Forecasts Strong Price Appreciation for Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital (NYSE:PNW) had its target price boosted by UBS Group from $96.00 to $99.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup lifted their price objective on Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective for the company in a report on Wednesday, December 4th. Jefferies Financial Group reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price target on Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Pinnacle West Capital Price Performance

PNW opened at $93.67 on Friday. The stock has a 50-day moving average price of $89.46 and a 200-day moving average price of $88.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. The firm has a market cap of $11.16 billion, a PE ratio of 17.74, a P/E/G ratio of 3.59 and a beta of 0.53. Pinnacle West Capital has a 1 year low of $70.73 and a 1 year high of $95.42.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Sell-side analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNW. Norges Bank purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $194,655,000. Invesco Ltd. lifted its position in shares of Pinnacle West Capital by 32.2% during the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider’s stock valued at $364,342,000 after buying an additional 1,045,788 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $69,233,000. Two Sigma Advisers LP lifted its position in shares of Pinnacle West Capital by 462.8% during the 4th quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider’s stock valued at $77,387,000 after buying an additional 750,700 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Pinnacle West Capital by 33.4% during the 4th quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider’s stock valued at $206,420,000 after buying an additional 610,042 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Company Profile

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.