SunTrust Robinson Humphrey Maintains Pinnacle West Capital Corporation to Neutral with Price Target $73.00

Brokerage firm SunTrust Robinson Humphrey Maintains its rating on Pinnacle West Capital Corporation(NYSE:PNW). In a research note issued to the investors, the brokerage major Lowers the price-target to $73.00 per share. The shares have been rated Neutral. The rating by SunTrust Robinson Humphrey was issued on Sep 12, 2016.

In a different note, On Aug 29, 2016, SunTrust Robinson Humphrey said it Maintains its rating on Pinnacle West Capital Corporation. In the research note, the firm Lowers the price-target to $76.00 per share. The shares have been rated ‘Neutral’ by the firm.

Pinnacle West Capital Corporation (PNW) shares turned negative on Tuesdays trading session with the shares closing down -0.05 points or -0.07% at a volume of 6,59,617. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.43. The peak price level was also seen at $77.43 while the days lowest was $76.82. Finally the shares closed at $76.83. The 52-week high of the shares is $82.78 while the 52-week low is $60.7. According to the latest information available, the market cap of the company is $8,542 M.

Pinnacle West Capital Corporation(PNW) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $915.39M. Analysts had an estimated revenue of $911.71M. Earnings per share were $1.08. Analysts had estimated an EPS of $1.20.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Denis A. Cortese (director) sold 2,000 shares at $72.87 per share price.Also, On Mar 11, 2016, Denise R Danner (VP, Controller & CAO) sold 2,175 shares at $70.83 per share price.On Mar 2, 2016, Lee R. Nickloy (VP and Treasurer) sold 3,000 shares at $68.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Pinnacle West Capital Corporation is a holding company that operates primarily through its wholly owned subsidiaries is engaged in regulated retail and wholesale electricity businesses. The Company’s operations primarily include electricity generation transmission and distribution. The Company’s 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). APS provides electric service to approximately 1.2 million customers. APS has ownership interests in or leases the coal nuclear gas oil and solar generating facilities.

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