Pinnacle West Capital Corporation (NYSE:PNW) Given Average Recommendation of “Hold” by Brokerages

Pinnacle West Capital Corporation (NYSE:PNW) has earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $103.5714.

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Finally, Truist Financial reduced their price target on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday, August 17th.

Pinnacle West Capital Stock Down 0.3%

Pinnacle West Capital stock opened at $97.40 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. Pinnacle West Capital has a fifty-two week low of $85.32 and a fifty-two week high of $111.16. The firm has a fifty day moving average price of $103.34 and a two-hundred day moving average price of $102.01. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 3.57 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts forecast that Pinnacle West Capital will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 3rd were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 69.73%.

Insider Buying and Selling

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares of the company’s stock, valued at $500,869.10. This trade represents a 26.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of Pinnacle West Capital by 10,353.5% in the 2nd quarter. California State Teachers Retirement System now owns 14,979,144 shares of the utilities provider’s stock valued at $1,602,768,000 after purchasing an additional 14,835,851 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pinnacle West Capital during the 2nd quarter valued at about $703,598,000. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after acquiring an additional 1,369,350 shares in the last quarter. Invesco Ltd. increased its position in shares of Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after acquiring an additional 74,023 shares during the last quarter. Finally, Soroban Capital Partners LP raised its position in Pinnacle West Capital by 34.0% in the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after acquiring an additional 977,411 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Company Profile

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.