Pinnacle West Capital Corporation (NYSE:PNW) has been upgraded to Neutral in a statement by Bank of America Corp. earlier today.
- Updated: November 27, 2016
Bank of America Corp. has upgraded Pinnacle West Capital Corporation (NYSE:PNW) 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 $74.10, Pinnacle West Capital Corporation (NYSE:PNW) traded 1.87% higher on the day. With the last close down -1.10% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the same period. Pinnacle West Capital Corporation has recorded a 50-day average of $74.28 and a two hundred day average of $76.18. Trading volume was down over the average, with 358,691 shares of PNW changing hands under the typical 768,400
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Pinnacle West Capital Corporation has a 52 week low of $60.70 and a 52 week high of $82.78 with a P/E ratio of 19.60 The company’s market cap is currently $0.
In addition to Bank of America Corp. reporting its target price, a total of 13 brokers have issued a report on the stock. The consensus target price is $72.54 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information 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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