Pinnacle West Capital (NYSE:PNW) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Pinnacle West Capital from a "sell" to a "hold" rating, while the broader analyst view remains cautious with an average Hold rating and target price of $103.07.
• PNW reported better-than-expected quarterly results, posting EPS of $0.27 versus expectations for a loss and revenue of $1.15 billion versus $1.08 billion forecast. Revenue also rose 11.4% year over year.
• The stock was trading near the top of its range at $99.27, with a market cap of $12.03 billion, and institutional investors own a large majority of the shares at 91.51%.

Pinnacle West Capital (NYSE:PNW - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets raised their target price on Pinnacle West Capital from $98.00 to $107.00 and gave the company a "market perform" rating in a research report on Thursday, February 26th. Morgan Stanley lowered their price objective on Pinnacle West Capital from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. TD Cowen lifted their price objective on Pinnacle West Capital from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Thursday, February 26th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $103.00 price objective on shares of Pinnacle West Capital in a report on Friday, January 23rd. Finally, Citigroup lifted their price objective on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Pinnacle West Capital has an average rating of "Hold" and an average target price of $103.07.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $99.27 on Friday. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.36. The business has a fifty day moving average of $101.50 and a 200 day moving average of $94.70. Pinnacle West Capital has a 1 year low of $85.32 and a 1 year high of $104.92.

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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The company's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts expect that Pinnacle West Capital will post 4.7 earnings per share for the current year.

Institutional Trading of Pinnacle West Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of Pinnacle West Capital in the third quarter worth $16,292,000. Y Intercept Hong Kong Ltd grew its stake in shares of Pinnacle West Capital by 164.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,748 shares of the utilities provider's stock worth $4,012,000 after acquiring an additional 27,832 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Pinnacle West Capital by 556.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,208 shares of the utilities provider's stock worth $1,633,000 after acquiring an additional 15,434 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Pinnacle West Capital in the third quarter worth $2,234,000. Finally, AE Wealth Management LLC grew its stake in shares of Pinnacle West Capital by 9.1% in the third quarter. AE Wealth Management LLC now owns 152,331 shares of the utilities provider's stock worth $13,658,000 after acquiring an additional 12,732 shares in the last quarter. Hedge funds and other institutional investors 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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