BMO Capital Sticks to Their Hold Rating for Pinnacle West Capital Corp

By Ryan Adsit

BMO Capital analyst Michael Worms reiterated a Hold rating on Pinnacle West Capital Corp (NYSE: PNW) today and set a price target of $86. The company’s shares opened today at $84.10, close to its 52-week high of $86.63.

According to TipRanks.com, Worms is a 5-star analyst with an average return of 9.0% and a 87.3% success rate. Worms covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.

Currently, the analyst consensus on Pinnacle West Capital Corp is Hold and the average price target is $84.33, representing a 0.3% upside.

In a report issued on May 8, RBC Capital also reiterated a Hold rating on the stock with a $85 price target.

The company has a one year high of $86.63 and a one year low of $70.11. Currently, Pinnacle West Capital Corp has an average volume of 729.4K.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Denis Cortese, a Director at PNW sold 1,776 shares for a total of $148,918.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Pinnacle West Capital Corp. operates as 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.