KeyCorp Has Positive Estimate for PNW FY2027 Earnings

Key Points

• KeyCorp raised its FY2027 EPS forecast for Pinnacle West Capital to $5.64 from $5.63 and projects earnings of $6.06, $6.52, and $7.03 per share for FY2028–FY2030.
• Analyst sentiment remains cautious: Pinnacle West has a consensus “Hold” rating from MarketBeat, with four Buy ratings, eleven Holds, and a consensus price target of $101.64.
• The company recently reported quarterly EPS of $1.43, slightly below the $1.46 consensus, while revenue rose 7.1% year over year to $1.46 billion; insiders sold shares, and institutional investors own 91.51% of the stock.

Pinnacle West Capital Corporation (NYSE:PNW - Free Report) - Analysts at KeyCorp upped their FY2027 EPS estimates for Pinnacle West Capital in a research report issued on Monday, October 12th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $5.64 per share for the year, up from their previous forecast of $5.63. The consensus estimate for Pinnacle West Capital's current full-year earnings is $4.73 per share. KeyCorp also issued estimates for Pinnacle West Capital's FY2028 earnings at $6.06 EPS, FY2029 earnings at $6.52 EPS and FY2030 earnings at $7.03 EPS.

PNW has been the topic of a number of other research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Morgan Stanley dropped their target price on Pinnacle West Capital from $94.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Friday, September 18th. Citigroup reaffirmed a "neutral" rating on shares of Pinnacle West Capital in a report on Thursday, October 8th. Barclays reduced their price target on Pinnacle West Capital from $108.00 to $94.00 and set an "equal weight" rating for the company in a research report on Thursday, October 1st. Finally, Wall Street Zen upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. 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 has a consensus rating of "Hold" and a consensus price target of $101.64.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $101.53 on Wednesday. The firm's 50 day moving average is $97.18 and its 200 day moving average is $101.09. The stock has a market capitalization of $12.30 billion, a P/E ratio of 19.14, a PEG ratio of 3.63 and a beta of 0.43. Pinnacle West Capital has a 12 month low of $86.18 and a 12 month high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the business earned $1.58 EPS. Pinnacle West Capital's revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS.

Insider Buying and Selling

In other Pinnacle West Capital news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the sale, the chief accounting officer owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% 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 company insiders.

Hedge Funds Weigh In On Pinnacle West Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position in 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 worth $21,531,000 after buying an additional 818 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in 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 worth $26,606,000 after acquiring an additional 5,199 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Pinnacle West Capital by 45.2% in the second quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider's stock worth $1,588,000 after purchasing an additional 4,620 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Pinnacle West Capital by 233.3% during the second 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 during the period. Finally, MCF Advisors LLC increased its position in Pinnacle West Capital by 11.7% during the 2nd quarter. MCF Advisors LLC now owns 10,889 shares of the utilities provider's stock valued at $1,165,000 after purchasing an additional 1,142 shares during the period. 91.51% of the stock is currently owned by hedge funds and other 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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