In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on Pinnacle West Capital (PNW), with a price target of $81.00. The company’s shares closed last Wednesday at $79.65.
According to TipRanks.com, Byrd is a 1-star analyst with an average return of -1.8% and a 51.7% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
Currently, the analyst consensus on Pinnacle West Capital is a Hold with an average price target of $94.50, a 19.6% upside from current levels. In a report issued on April 7, RBC Capital also maintained a Hold rating on the stock with a $86.00 price target.
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Based on Pinnacle West Capital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $670 million and net profit of $63.98 million. In comparison, last year the company earned revenue of $756 million and had a net profit of $26.08 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PNW in relation to earlier this year.
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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. The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.
