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

Key Points

• Pinnacle West Capital has an average analyst rating of "Hold" from 15 brokerages, with 12 holds and 3 buys. The consensus 1-year price target is about $104.14.
• Recent analyst action was mixed, including Truist cutting its target to $105 and Barclays raising its target to $108, while firms like Wells Fargo, Jefferies, and Morgan Stanley maintained differing views and targets.
• The company reported stronger-than-expected quarterly results, posting $0.27 EPS versus a loss estimate and revenue of $1.15 billion, and it also announced a quarterly dividend of $0.91 per share, yielding about 3.4%.

Shares of Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) have received an average rating of "Hold" from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $104.1429.

Several brokerages recently issued reports on PNW. Truist Financial decreased their price target on Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating for the company in a report on Friday, May 29th. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday. Barclays increased their target price on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Finally, Morgan Stanley set a $95.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, June 24th.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares in the company, valued at $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Pinnacle West Capital by 44.3% during 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 purchasing an additional 1,369,350 shares during the period. Invesco Ltd. increased its holdings in Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider's stock worth $376,910,000 after buying an additional 74,023 shares during the last quarter. Soroban Capital Partners LP increased its holdings in Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider's stock worth $388,373,000 after buying an additional 977,411 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider's stock worth $274,117,000 after buying an additional 27,861 shares during the last quarter. Finally, Norges Bank bought a new stake in Pinnacle West Capital in the fourth quarter worth about $140,468,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $106.83 on Friday. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.94 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. Pinnacle West Capital has a fifty-two week low of $85.32 and a fifty-two week high of $110.40. The firm's 50-day simple moving average is $102.87 and its 200 day simple moving average is $99.10.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted ($0.04) EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts anticipate that Pinnacle West Capital will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.4%. Pinnacle West Capital's dividend payout ratio (DPR) is 67.78%.

About Pinnacle West Capital

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.

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