Pinnacle West Capital (NYSE:PNW) Hits New 52-Week High - Here's Why

Key Points

• Pinnacle West Capital (NYSE:PNW) hit a new 52-week high of $108.41, with the stock last trading around $108.26, up about 0.4% on the day.
• Recent analyst actions were mixed but generally cautious: several firms maintained or lowered targets, and the overall consensus remains Hold with an average price target of $102.71.
• The utility reported stronger-than-expected quarterly results, including EPS of $0.27 versus estimates for a loss, revenue of $1.15 billion, and a quarterly dividend of $0.91 per share, yielding about 3.4% annually.

Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $108.41 and last traded at $108.2640, with a volume of 362018 shares trading hands. The stock had previously closed at $107.86.

Analysts Set New Price Targets

Several research analysts have weighed in on PNW shares. Truist Financial cut 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. Argus upped their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Barclays increased their target price on Pinnacle West Capital from $101.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, TD Cowen raised their target price 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. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of "Hold" and a consensus price target of $102.71.

Pinnacle West Capital Stock Up 0.4%

The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.95 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. The business has a 50-day moving average price of $102.04 and a 200-day moving average price of $97.97.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results 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. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted ($0.04) EPS. Pinnacle West Capital'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, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company 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. This represents a $3.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital's dividend payout ratio is 67.78%.

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 PNW. 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 purchased a new position in Pinnacle West Capital during the 1st quarter valued at about $327,000. Chelsea Counsel Co. increased its holdings in shares of Pinnacle West Capital by 9.0% in the 1st quarter. Chelsea Counsel Co. now owns 5,189 shares of the utilities provider's stock valued at $523,000 after purchasing an additional 430 shares during the period. Parallel Advisors LLC increased its holdings in shares of Pinnacle West Capital by 31.8% in the 1st quarter. Parallel Advisors LLC now owns 5,017 shares of the utilities provider's stock valued at $505,000 after purchasing an additional 1,211 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in shares of Pinnacle West Capital by 5.1% in the first quarter. Glenmede Trust Co. NA now owns 7,718 shares of the utilities provider's stock worth $778,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Company Profile

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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