Wells Fargo Remains a Hold on Pinnacle West Capital (PNW)

Wells Fargo analyst Shahriar Pourreza maintained a Hold rating on Pinnacle West Capital yesterday and set a price target of $106.00. The company’s shares closed yesterday at $99.77.

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Pourreza covers the Utilities sector, focusing on stocks such as Eversource Energy, Sempra Energy, and Pinnacle West Capital. According to TipRanks, Pourreza has an average return of 8.0% and a 65.07% success rate on recommended stocks.

Pinnacle West Capital has an analyst consensus of Hold, with a price target consensus of $103.33.

Based on Pinnacle West Capital’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.15 billion and a net profit of $32.92 million. In comparison, last year the company earned a revenue of $1.03 billion and had a GAAP net loss of $4.64 million

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PNW in relation to earlier this year. Earlier this month, Jacob Tetlow, an Insider at PNW sold 6,567.00 shares for a total of $650,133.41.