Equities Analysts Offer Predictions for PNW Q2 Earnings

Pinnacle West Capital Corporation (NYSE:PNW) – KeyCorp issued their Q2 2026 earnings per share estimates for Pinnacle West Capital in a research note issued on Wednesday, July 22nd. KeyCorp analyst S. Karp expects that the utilities provider will post earnings of $1.45 per share for the quarter. The consensus estimate for Pinnacle West Capital’s current full-year earnings is $4.73 per share. KeyCorp also issued estimates for Pinnacle West Capital’s Q3 2026 earnings at $3.12 EPS, FY2026 earnings at $4.71 EPS, FY2028 earnings at $6.05 EPS and FY2029 earnings at $6.50 EPS.

A number of other research analysts also recently commented on the stock. Morgan Stanley set a $97.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Barclays upped their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, BMO Capital Markets lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $104.07.

Pinnacle West Capital Price Performance

Shares of PNW opened at $105.37 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.87 and a beta of 0.43. The business’s 50-day moving average is $104.26 and its 200-day moving average is $100.43. Pinnacle West Capital has a fifty-two week low of $85.32 and a fifty-two week high of $111.16.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital’s payout ratio is currently 67.78%.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the company’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 completion of the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle West Capital

Large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its holdings in Pinnacle West Capital by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 100 shares in the last quarter. Excelsior Advisor Network LLC increased its holdings in shares of Pinnacle West Capital by 4.3% in the first quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock worth $264,000 after acquiring an additional 108 shares in the last quarter. Empowered Funds LLC raised its position in shares of Pinnacle West Capital by 3.8% during the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 116 shares during the period. Everhart Financial Group Inc. raised its position in shares of Pinnacle West Capital by 5.1% during the second quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 120 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 126 shares in the last quarter. 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.