Analysts Set Pinnacle West Capital Corporation (NYSE:PNW) PT at $97.38

Shares of Pinnacle West Capital Corporation (NYSE:PNW) have been assigned an average rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $97.3846.

A number of analysts recently issued reports on PNW shares. Barclays raised their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Zacks Research raised Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $99.00 target price on shares of Pinnacle West Capital in a research note on Monday, October 20th. Finally, TD Cowen assumed coverage on Pinnacle West Capital in a research report on Thursday, October 16th. They set a “hold” rating and a $97.00 target price on the stock.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC increased its stake in Pinnacle West Capital by 4,666.1% during the second quarter. AE Wealth Management LLC now owns 139,599 shares of the utilities provider’s stock worth $12,490,000 after acquiring an additional 136,670 shares during the last quarter. Holland Advisory Services Inc. purchased a new stake in shares of Pinnacle West Capital during the 2nd quarter worth about $266,000. Marshall Financial Group LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter worth approximately $540,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Pinnacle West Capital by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,764 shares of the utilities provider’s stock worth $30,934,000 after purchasing an additional 11,356 shares in the last quarter. Finally, Entropy Technologies LP raised its holdings in Pinnacle West Capital by 57.1% in the second quarter. Entropy Technologies LP now owns 21,764 shares of the utilities provider’s stock valued at $1,947,000 after buying an additional 7,913 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.3%

PNW opened at $90.86 on Thursday. The firm has a market cap of $10.88 billion, a P/E ratio of 18.73, a PEG ratio of 9.23 and a beta of 0.50. The business’s fifty day simple moving average is $89.89 and its 200 day simple moving average is $90.09. Pinnacle West Capital has a 52 week low of $81.47 and a 52 week high of $96.50. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm earned $3.37 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. As a group, equities research analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, November 3rd. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s payout ratio is currently 74.74%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.