Pinnacle West Capital (NYSE:PNW) Reaches New 1-Year High – What’s Next?

Pinnacle West Capital Corporation (NYSE:PNW) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $111.16 and last traded at $110.4250, with a volume of 64336 shares. The stock had previously closed at $109.29.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PNW. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Argus boosted their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Barclays boosted their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Finally, TD Cowen increased their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.14.

Pinnacle West Capital Trading Up 0.2%

The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The firm has a market cap of $13.27 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 3.90 and a beta of 0.43. The firm’s 50-day simple moving average is $103.59 and its 200 day simple moving average is $99.81.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts expect that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.3%. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Hedge funds have recently made changes to their positions in the company. DNB Asset Management AS raised its stake in Pinnacle West Capital by 61.3% in the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock valued at $3,978,000 after acquiring an additional 17,037 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Pinnacle West Capital by 53.0% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock valued at $24,654,000 after purchasing an additional 96,236 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Pinnacle West Capital by 407.8% during the third quarter. Tudor Investment Corp ET AL now owns 273,713 shares of the utilities provider’s stock worth $24,541,000 after purchasing an additional 219,814 shares during the period. Assenagon Asset Management S.A. boosted its position in Pinnacle West Capital by 133.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock worth $81,665,000 after purchasing an additional 526,212 shares during the period. Finally, Tcfg Wealth Management LLC purchased a new position in shares of Pinnacle West Capital in the third quarter worth about $1,059,000. 91.51% of the stock is currently owned by institutional investors.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.