Pinnacle West Capital (NYSE:PNW) Sets New 1-Year High - Here's What Happened

Key Points

• Pinnacle West shares reached a new 52-week high of $103.28, trading around $103.23 on Friday with volume of about 336,881 shares (up ~1.6%).
• Q4 results beat EPS expectations with $0.13 EPS vs. $0.05 expected and $1.13B revenue (slightly below estimates); the company set FY2026 guidance of $4.550–4.750 EPS while analysts maintain a consensus "Hold" with a $100.08 target.
• Institutional ownership is high at 91.51%, with large recent positions including Norges Bank (~$140M) and ATLAS Infrastructure (now ~4.46M shares), signaling strong institutional interest.

Shares of Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $103.28 and last traded at $103.2290, with a volume of 336881 shares changing hands. The stock had previously closed at $101.48.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNW shares. UBS Group lifted their target price on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 17th. Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research note on Thursday, February 26th. Barclays decreased their price objective on Pinnacle West Capital from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. Finally, TD Cowen raised their target price on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $100.08.

Pinnacle West Capital Trading Up 1.6%

The company has a debt-to-equity ratio of 1.30, a current ratio of 0.54 and a quick ratio of 0.36. The firm's 50 day moving average is $95.54 and its 200 day moving average is $91.33. The company has a market capitalization of $12.46 billion, a PE ratio of 20.38, a P/E/G ratio of 3.69 and a beta of 0.54.

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

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Pinnacle West Capital in the 4th quarter worth 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. purchased a new stake in shares of Pinnacle West Capital during the fourth quarter valued at $68,008,000. Capital Research Global Investors grew its stake in shares of Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider's stock worth $1,421,407,000 after acquiring an additional 758,190 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Pinnacle West Capital in the 4th quarter worth approximately $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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