Pinnacle West Capital (NYSE:PNW) Hits New 12-Month High - Time to Buy?

Key Points

• Pinnacle West Capital (NYSE:PNW) hit a new 52-week high, trading as high as $111.16, reflecting recent strength in the utility stock.
• Analyst views remain mixed: Jefferies kept a buy rating with a $129 target, but the broader consensus is still Hold with an average price target of $104.14.
• The company beat its latest quarterly earnings estimates, posted 11.4% revenue growth, and announced a quarterly dividend of $0.91 per share payable on September 1, for a 3.3% yield.

Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $111.16 and last traded at $110.4250, with a volume of 64336 shares traded. The stock had previously closed at $109.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Morgan Stanley set a $95.00 target price on shares of Pinnacle West Capital in a report on Wednesday, June 24th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, April 21st. Barclays increased their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $104.14.

Pinnacle West Capital Stock Up 0.2%

The firm has a market cap of $13.27 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 3.90 and a beta of 0.43. The stock's 50 day simple moving average is $103.59 and its 200 day simple moving average is $99.81. 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 (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.30. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts anticipate that Pinnacle West Capital Corporation will post 4.73 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.3%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 67.78%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

Institutional Trading of Pinnacle West Capital

Several institutional investors and hedge funds have recently modified their holdings of PNW. JFS Wealth Advisors LLC boosted its position in shares of Pinnacle West Capital by 109.6% during the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider's stock valued at $26,000 after buying an additional 126 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Pinnacle West Capital during the second quarter worth $27,000. MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital in the 2nd quarter valued at $32,000. Clearstead Advisors LLC raised its position in Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock valued at $35,000 after buying an additional 185 shares during the last quarter. Finally, Dorato Capital Management bought a new position in Pinnacle West Capital during the 4th quarter valued at $69,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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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