Pinnacle West Capital (NYSE:PNW) Sets New 52-Week High – Time to Buy?

Pinnacle West Capital Corporation (NYSE:PNW)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $105.50 and last traded at $104.9860, with a volume of 29961 shares traded. The stock had previously closed at $104.05.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of analyst reports. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Barclays raised their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. BMO Capital Markets boosted 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. Citigroup upped their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Finally, Stifel Nicolaus set a $107.00 price objective on Pinnacle West Capital in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.50.

Pinnacle West Capital Stock Up 0.5%

The stock’s fifty day moving average price is $101.72 and its 200 day moving average price is $97.42. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The stock has a market cap of $12.67 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 3.75 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. 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 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Insider Activity at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently bought and sold shares of PNW. Aristotle Capital Boston LLC bought a new stake in Pinnacle West Capital in the third quarter worth $1,007,000. Gotham Asset Management LLC grew its stake in shares of Pinnacle West Capital by 37.4% during the third quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after buying an additional 100,120 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Pinnacle West Capital by 6.3% during the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after buying an additional 76,930 shares during the last quarter. DNB Asset Management AS increased its holdings in shares of Pinnacle West Capital by 61.3% in the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock worth $3,978,000 after buying an additional 17,037 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pinnacle West Capital by 8.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after buying an additional 568,581 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.