Analysts Set Pinnacle West Capital Corporation (NYSE:PNW) Target Price at $103.57

Pinnacle West Capital Corporation (NYSE:PNW) has been given an average rating of “Hold” by the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $103.5714.

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Truist Financial decreased their target price on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Finally, BMO Capital Markets lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd.

Insiders Place Their Bets

In related news, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Elizabeth Blankenship sold 980 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in Pinnacle West Capital by 10,353.5% in the second quarter. California State Teachers Retirement System now owns 14,979,144 shares of the utilities provider’s stock valued at $1,602,768,000 after purchasing an additional 14,835,851 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Pinnacle West Capital in the 2nd quarter worth $703,598,000. ATLAS Infrastructure Partners UK Ltd. increased its holdings in shares of 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 worth $395,712,000 after buying an additional 1,369,350 shares during the last quarter. Invesco Ltd. raised its position in shares of Pinnacle West Capital by 1.8% during the 4th quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after buying an additional 74,023 shares in the last quarter. Finally, Soroban Capital Partners LP raised its position in shares of Pinnacle West Capital by 34.0% during the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after buying an additional 977,411 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $97.37 on Friday. The firm has a market capitalization of $11.80 billion, a P/E ratio of 18.65, a PEG ratio of 3.58 and a beta of 0.45. Pinnacle West Capital has a one year low of $85.32 and a one year high of $111.16. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The business has a fifty day moving average price of $102.93 and a 200-day moving average price of $101.97.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts forecast that Pinnacle West Capital will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. Pinnacle West Capital’s dividend payout ratio is presently 69.73%.

Pinnacle West Capital Company Profile

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.