Pinnacle West Capital Corporation (NYSE:PNW) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts rate Pinnacle West Capital “Hold” overall: Eleven of 14 analysts recommend holding the stock, while three recommend buying it. The average 12-month price target is $104.23.
• Quarterly earnings slightly missed expectations: Pinnacle West reported EPS of $1.43 versus the $1.46 consensus estimate, although revenue rose 7.1% year over year to $1.46 billion. Analysts expect full-year EPS of approximately $4.71.
• Institutional ownership remains high at 91.51%: Several investment firms increased or initiated positions, while two company executives sold shares; insiders own 0.19% of the stock.

Shares of Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) have earned a consensus recommendation of "Hold" from the fourteen research firms that are presently covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $104.2308.

Several equities analysts have weighed in on PNW shares. Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Jefferies Financial Group restated a "buy" rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. TD Cowen reaffirmed a "hold" rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Morgan Stanley cut their target price 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. Finally, Barclays lifted their target price on shares of 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.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $93.05 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.41 and a beta of 0.45. The stock has a 50 day moving average of $99.96 and a 200 day moving average of $101.63. Pinnacle West Capital has a 12 month low of $85.91 and a 12 month high of $111.16.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (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 net margin of 11.52% and a return on equity of 8.99%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts forecast that Pinnacle West Capital will post 4.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 10,886 shares of the company's stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital 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 completion of the transaction, the senior vice president owned 4,910 shares of the company's stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Pinnacle West Capital during the 4th quarter valued at about $1,789,000. LSV Asset Management grew its position in shares of Pinnacle West Capital by 46.4% during the 4th quarter. LSV Asset Management now owns 135,710 shares of the utilities provider's stock valued at $12,037,000 after acquiring an additional 43,000 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $4,374,000. Dockside LLC purchased a new stake in shares of Pinnacle West Capital in the 4th quarter worth $1,190,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in Pinnacle West Capital by 109.3% in the 1st 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 during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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 an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.

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