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

Key Points

• Pinnacle West shares hit a new 52-week high, trading as high as $104.20 and last at $104.36, above its 50-day ($99.11) and 200-day ($93.01) moving averages.
• Analysts are mixed: the consensus rating is "Hold" with an average price target of $100.92 (three Buys, eleven Holds, one Sell), though some firms have targets as high as $107.
• The company reported an EPS beat ($0.13 vs. $0.05), provided FY2026 guidance of 4.55–4.75 EPS, and has substantial institutional backing with about 91.51% of shares held by institutions.

Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $104.20 and last traded at $104.36, with a volume of 12979 shares changing hands. The stock had previously closed at $103.12.

Analyst Ratings Changes

A number of analysts have commented on PNW shares. Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Morgan Stanley set a $96.00 price target on shares of Pinnacle West Capital in a research report on Friday, February 20th. BMO Capital Markets upped their price target on shares of 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $103.00 price target on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $100.92.

Pinnacle West Capital Stock Up 1.4%

The company has a market cap of $12.64 billion, a P/E ratio of 20.67, a PEG ratio of 3.77 and a beta of 0.49. The stock's 50-day moving average price is $99.11 and its 200-day moving average price is $93.01. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.30.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Pinnacle West Capital in the 4th quarter valued at about $140,468,000. ATLAS Infrastructure Partners UK Ltd. lifted its position in Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider's stock valued at $395,712,000 after acquiring an additional 1,369,350 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Pinnacle West Capital in the 4th quarter valued at about $68,008,000. Capital Research Global Investors lifted its position in Pinnacle West Capital by 5.0% in the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider's stock valued at $1,421,407,000 after acquiring an additional 758,190 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Pinnacle West Capital in the 4th quarter valued at about $57,379,000. 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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