Bank of America (Merrill Lynch) upgraded Pinnacle West Capital Corporation (NYSE:PNW) from Underperform to Neutral in a statement released earlier today.
- Updated: November 27, 2016
Bank of America (Merrill Lynch) has upgraded Pinnacle West Capital Corporation (NYSE:PNW) from Underperform to Neutral in a statement released on 11/22/2016.
On 2/29/2016, Evercore ISI released a statement on Pinnacle West Capital Corporation (NYSE:PNW) upped the target price from $66.00 to $67.00 that suggested a downside of -0.02%.
Having a price of $75.08, Pinnacle West Capital Corporation (NYSE:PNW) traded 1.87% higher on the day. With the last stock price close down -1.10% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the date range. Pinnacle West Capital Corporation has recorded a 50-day average of $74.28 and a two hundred day average of $76.18. Volume of trade was down over the average, with 358,691 shares of PNW changing hands under the typical 768,400
With a total market value of $0, Pinnacle West Capital Corporation has price-earnings ratio of 19.60 with a one year low of $60.70 and a one year high of $82.78 .
A total of 13 equity analysts have released a research note on PNW. zero equity analysts rating the company a strong buy, zero equity analysts rating the company a buy, zero equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $72.54.
Brief Synopsis About Pinnacle West Capital Corporation (NYSE:PNW)
Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution. Its subsidiaries include Arizona Public Service Company (APS), a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). It owns and leases over 6,200 megawatt (MW) of regulated generation capacity, and holds a mix of both long-term and short-term purchased power agreements for additional capacity.
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