Wells Fargo analyst Sarah Akers downgraded Pinnacle West Capital Corp (PNW) to Hold yesterday. The company’s shares closed yesterday at $87.36.
According to TipRanks.com, Akers is a 4-star analyst with an average return of 9.7% and a 85.7% success rate. Akers covers the Utilities sector, focusing on stocks such as Chesapeake Utilities Corp, Centerpoint Energy, and Dominion Resources.
Currently, the analyst consensus on Pinnacle West Capital Corp is a Hold with an average price target of $89.17.
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Based on Pinnacle West Capital Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $315 million. In comparison, last year the company had a net profit of $21.63 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
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Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co.
