Pinnacle West Capital (NYSE:PNW) Stock Bumped Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Pinnacle West Capital (NYSE:PNW) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities analysts also recently commented on PNW. BMO Capital Markets dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Truist Financial dropped their price objective on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a report on Monday, August 17th. TD Cowen reissued a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Finally, Morgan Stanley decreased their price target on shares of Pinnacle West Capital from $94.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average price target of $103.21.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $96.01 on Friday. Pinnacle West Capital has a one year low of $86.18 and a one year high of $111.16. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 3.50 and a beta of 0.43. The firm has a 50 day simple moving average of $97.74 and a 200 day simple moving average of $101.14.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $1.58 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts predict that Pinnacle West Capital will post 4.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in shares of Pinnacle West Capital by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,227 shares of the utilities provider’s stock valued at $21,531,000 after acquiring an additional 818 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Pinnacle West Capital by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,651 shares of the utilities provider’s stock valued at $26,606,000 after buying an additional 5,199 shares during the period. Sequoia Financial Advisors LLC increased its position in Pinnacle West Capital by 45.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider’s stock valued at $1,588,000 after buying an additional 4,620 shares in the last quarter. Tidal Investments LLC increased its position in Pinnacle West Capital by 233.3% in the 2nd quarter. Tidal Investments LLC now owns 35,637 shares of the utilities provider’s stock valued at $3,813,000 after buying an additional 24,946 shares in the last quarter. Finally, MCF Advisors LLC increased its position in Pinnacle West Capital by 11.7% in the 2nd quarter. MCF Advisors LLC now owns 10,889 shares of the utilities provider’s stock valued at $1,165,000 after buying an additional 1,142 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

About Pinnacle West Capital

Pinnacle West Capital Corporation (NYSE:PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers across Arizona.

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona’s growing energy needs.