In a report released on May 7, Shelby Tucker from RBC Capital maintained a Hold rating on Pinnacle West Capital (PNW – Research Report), with a price target of $80.00. The company’s shares closed yesterday at $77.24.
Tucker covers the Utilities sector, focusing on stocks such as PPL, Atlantica Yield, and American Water. According to TipRanks, Tucker has an average return of 10.5% and a 73.02% success rate on recommended stocks.
In addition to RBC Capital, Pinnacle West Capital also received a Hold from KeyBanc’s Sophie Karp in a report issued on May 3. However, on May 6, Bank of America Securities reiterated a Buy rating on Pinnacle West Capital (NYSE: PNW).
Based on Pinnacle West Capital’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.64 billion and a net profit of $398.21 million. In comparison, last year the company earned a revenue of $1.47 billion and had a net profit of $326.33 million
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Pinnacle West Capital (PNW) Company Description:
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.
