Williams Capital cut shares of Pinnacle West Capital Corp. (NYSE: PNW) from a buy rating to a hold rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has $58.00 price target on the stock, up from their previous price target of $56.00.
Shares of Pinnacle West Capital Corp. (NYSE: PNW) opened at 54.79 on Wednesday. Pinnacle West Capital Corp. has a 52 week low of $48.73 and a 52 week high of $61.89. The stock’s 50-day moving average is currently $56.39. The company has a market cap of $6.024 billion and a P/E ratio of 14.69.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a dividend of $0.55 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, July 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group cut their price target on shares of Pinnacle West Capital Corp. from $62.50 to $59.50 in a research note to investors on Friday, June 28th. Separately, analysts at BMO Capital Markets reiterated a hold rating on shares of Pinnacle West Capital Corp. in a research note to investors on Monday, June 24th. They now have a $62.00 price target on the stock. Finally, analysts at Ladenburg Thalmann cut their price target on shares of Pinnacle West Capital Corp. from $62.00 to $56.00 in a research note to investors on Monday, June 24th.
Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $60.50.
Pinnacle West Capital Corporation (NYSE: PNW) is a holding company that conducts business through its subsidiaries.
