Pinnacle West Capital (PNW) – Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Pinnacle West Capital (NYSE: PNW) recently:

• 12/4/2024 – Pinnacle West Capital was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $101.00 price target on the stock.
• 12/4/2024 – Pinnacle West Capital had its price target raised by analysts at Citigroup Inc. from $85.00 to $95.00. They now have a “neutral” rating on the stock.
• 11/22/2024 – Pinnacle West Capital had its price target lowered by analysts at Morgan Stanley from $82.00 to $81.00. They now have an “equal weight” rating on the stock.
• 11/18/2024 – Pinnacle West Capital was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $91.00 price target on the stock, down previously from $93.00.
• 11/7/2024 – Pinnacle West Capital had its price target raised by analysts at Wells Fargo & Company from $90.00 to $92.00. They now have an “equal weight” rating on the stock.
• 10/16/2024 – Pinnacle West Capital had its price target raised by analysts at Wells Fargo & Company from $87.00 to $90.00. They now have an “equal weight” rating on the stock.

Pinnacle West Capital Stock Up 1.1 %

Shares of Pinnacle West Capital stock traded up $1.04 on Wednesday, hitting $92.32. 390,182 shares of the company’s stock traded hands, compared to its average volume of 1,159,525. The stock has a market cap of $10.50 billion, a P/E ratio of 17.48, a PEG ratio of 2.19 and a beta of 0.54. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm’s 50-day moving average is $89.47 and its 200 day moving average is $84.79. Pinnacle West Capital Co. has a 52-week low of $65.20 and a 52-week high of $95.42.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.895 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.88. This represents a $3.58 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, November 4th. Pinnacle West Capital’s dividend payout ratio is 67.80%.

Hedge Funds Weigh In On Pinnacle West Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in shares of Pinnacle West Capital during the 1st quarter valued at approximately $295,000. Cetera Investment Advisers raised its position in shares of Pinnacle West Capital by 177.0% during the 1st quarter. Cetera Investment Advisers now owns 29,090 shares of the utilities provider’s stock valued at $2,174,000 after acquiring an additional 18,589 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Pinnacle West Capital during the 1st quarter valued at approximately $569,000. Butensky & Cohen Financial Security Inc. raised its position in shares of Pinnacle West Capital by 2.6% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 58,502 shares of the utilities provider’s stock valued at $4,468,000 after acquiring an additional 1,492 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Pinnacle West Capital by 7.7% during the 2nd quarter. QRG Capital Management Inc. now owns 63,396 shares of the utilities provider’s stock valued at $4,842,000 after acquiring an additional 4,533 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.