Pinnacle West Capital (NYSE:PNW) Reaches New 12-Month High – What’s Next?

Pinnacle West Capital Corporation (NYSE:PNW)’s stock price hit 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 traded. The stock had previously closed at $101.48.

Wall Street Analyst Weigh In

PNW has been the topic of a number of research analyst reports. Morgan Stanley set a $96.00 price objective on shares of Pinnacle West Capital in a research note on Friday, February 20th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. 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 note on Friday, January 23rd. TD Cowen lifted their price target on Pinnacle West Capital from $97.00 to $100.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, Barclays dropped 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. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.08.

Pinnacle West Capital Price Performance

The firm has a market capitalization of $12.44 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.78 and a beta of 0.54. The business’s fifty day moving average is $95.83 and its 200 day moving average is $91.43. 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) last issued its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $1.13 billion during 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 firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Hedge Funds Weigh In On Pinnacle West Capital

A number of hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in shares of Pinnacle West Capital by 36.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,700 shares of the utilities provider’s stock worth $2,014,000 after purchasing an additional 6,086 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Pinnacle West Capital by 49.9% during the fourth quarter. Hsbc Holdings PLC now owns 645,487 shares of the utilities provider’s stock valued at $57,309,000 after purchasing an additional 214,907 shares during the last quarter. DGS Capital Management LLC boosted its position in shares of Pinnacle West Capital by 12.9% in the 4th quarter. DGS Capital Management LLC now owns 2,810 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 321 shares during the period. Pacer Advisors Inc. increased its stake in Pinnacle West Capital by 120.7% in the 4th quarter. Pacer Advisors Inc. now owns 22,201 shares of the utilities provider’s stock worth $1,969,000 after purchasing an additional 12,142 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in Pinnacle West Capital in the 4th quarter worth about $374,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.