Morgan Stanley Issues Pessimistic Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

by · The Markets Daily

Pinnacle West Capital (NYSE:PNW – Get Free Report) had its price objective lowered by equities research analysts at Morgan Stanley from $82.00 to $81.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential downside of 12.84% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Barclays cut Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $93.00 to $91.00 in a research report on Monday, November 18th. Finally, Jefferies Financial Group initiated coverage on Pinnacle West Capital in a report on Thursday, September 19th. They issued a “buy” rating and a $104.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.88.

View Our Latest Report on Pinnacle West Capital

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $92.93 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. The firm has a fifty day moving average of $89.01 and a 200 day moving average of $83.91. The firm has a market cap of $10.57 billion, a PE ratio of 17.60, a PEG ratio of 2.19 and a beta of 0.52. Pinnacle West Capital has a one year low of $65.20 and a one year high of $94.38.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $882,000. Fortem Financial Group LLC acquired a new position in Pinnacle West Capital in the 3rd quarter valued at about $495,000. Toronto Dominion Bank increased its stake in Pinnacle West Capital by 15.9% during the third quarter. Toronto Dominion Bank now owns 51,534 shares of the utilities provider’s stock worth $4,565,000 after purchasing an additional 7,087 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Pinnacle West Capital by 10.6% during the third quarter. Coldstream Capital Management Inc. now owns 3,110 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 299 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Pinnacle West Capital by 10.4% in the third quarter. M&T Bank Corp now owns 10,134 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 958 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle West Capital

(Get Free Report)

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.

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