Pinnacle West Capital (NYSE:PNW) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Pinnacle West Capital from “Sell” to “Hold.” The broader analyst consensus is also “Hold,” with four Buy ratings, eleven Hold ratings, and an average price target of $103.21.
• PNW shares opened at $96.01, while the company’s latest quarter reported $1.43 in EPS, slightly below estimates, despite revenue of $1.46 billion exceeding expectations and rising 7.1% year over year.
• Institutional investors own 91.51% of the stock, while two company executives recently sold shares; insiders collectively own just 0.19% of Pinnacle West.

Pinnacle West Capital (NYSE:PNW - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts have also issued reports on PNW. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Scotiabank initiated coverage on Pinnacle West Capital in a report on Tuesday. They set a "sector outperform" rating and a $104.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. TD Cowen reiterated a "hold" rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Finally, BMO Capital Markets dropped their price target on Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $103.21.

Pinnacle West Capital Trading Up 1.5%

PNW stock opened at $96.01 on Friday. Pinnacle West Capital has a 12 month low of $86.18 and a 12 month high of $111.16. The firm's 50-day moving average is $97.74 and its 200 day moving average is $101.14. The company has a market capitalization of $11.64 billion, a PE ratio of 18.39, a P/E/G ratio of 3.45 and a beta of 0.43. 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 (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. Pinnacle West Capital's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, research analysts anticipate that Pinnacle West Capital will post 4.72 EPS for the current year.

Insider Buying and Selling at Pinnacle West Capital

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently added to or reduced their stakes in PNW. Fox Run Management L.L.C. acquired a new stake in Pinnacle West Capital in the fourth quarter valued at approximately $1,789,000. Wellington Management Group LLP grew its holdings in Pinnacle West Capital by 101.3% in the second quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider's stock worth $155,893,000 after purchasing an additional 733,069 shares during the last quarter. Dockside LLC acquired a new position in shares of Pinnacle West Capital during the fourth quarter worth $1,190,000. Y Intercept Hong Kong Ltd increased its position in shares of Pinnacle West Capital by 109.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 19,891 shares of the utilities provider's stock worth $2,004,000 after purchasing an additional 10,386 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Pinnacle West Capital by 49.9% during the 4th quarter. Hsbc Holdings PLC now owns 645,487 shares of the utilities provider's stock valued at $57,309,000 after purchasing an additional 214,907 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Company Profile

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.

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