Pinnacle West Capital (NYSE:PNW) Given New $108.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Pinnacle West Capital to $108 from $102, while keeping an equal weight rating on the stock.
• The stock has seen mixed analyst sentiment overall, with the consensus rating at Hold and a consensus price target of $103.14 across analysts.
• Pinnacle West Capital reported better-than-expected quarterly results, posting $0.27 EPS versus a loss estimate and revenue of $1.15 billion, and it also provided FY 2026 EPS guidance of 4.55 to 4.75.

Pinnacle West Capital (NYSE:PNW - Get Free Report) had its target price lifted by equities researchers at Barclays from $102.00 to $108.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has an "equal weight" rating on the utilities provider's stock. Barclays's price objective points to a potential upside of 0.93% from the company's previous close.

PNW has been the topic of a number of other reports. Weiss Ratings upgraded shares of Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a report on Tuesday, April 21st. TD Cowen lifted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a "hold" rating in a research report on Friday, May 15th. Argus upped their price target on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and a consensus price target of $103.14.

Pinnacle West Capital Trading Down 0.8%

Shares of PNW stock opened at $107.01 on Wednesday. The stock has a 50-day simple moving average of $102.10 and a 200 day simple moving average of $98.12. Pinnacle West Capital has a fifty-two week low of $85.32 and a fifty-two week high of $108.41. The stock has a market capitalization of $12.97 billion, a P/E ratio of 19.93, a P/E/G ratio of 3.94 and a beta of 0.44. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. Pinnacle West Capital's revenue for the quarter was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts expect that Pinnacle West Capital will post 4.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC raised its position in Pinnacle West Capital by 89.1% during the first quarter. Empowered Funds LLC now owns 5,988 shares of the utilities provider's stock valued at $603,000 after buying an additional 2,822 shares during the period. US Asset Management LLC acquired a new stake in Pinnacle West Capital during the 1st quarter worth about $327,000. Chelsea Counsel Co. grew its stake in Pinnacle West Capital by 9.0% during the 1st quarter. Chelsea Counsel Co. now owns 5,189 shares of the utilities provider's stock valued at $523,000 after acquiring an additional 430 shares in the last quarter. Parallel Advisors LLC grew its stake in Pinnacle West Capital by 31.8% during the 1st quarter. Parallel Advisors LLC now owns 5,017 shares of the utilities provider's stock valued at $505,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Pinnacle West Capital by 5.1% in the 1st quarter. Glenmede Trust Co. NA now owns 7,718 shares of the utilities provider's stock valued at $778,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

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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