Pinnacle West Capital (NYSE:PNW) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Pinnacle West Capital (NYSE:PNW) from a hold rating to a sell rating in a research note published on Saturday.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research report on Tuesday, April 21st. Truist Financial dropped their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Morgan Stanley set a $97.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.07.

Pinnacle West Capital Stock Performance

PNW stock opened at $99.22 on Friday. Pinnacle West Capital has a 1-year low of $85.32 and a 1-year high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The firm has a market cap of $12.03 billion, a PE ratio of 19.01, a P/E/G ratio of 3.70 and a beta of 0.44. The business’s 50-day moving average price is $104.53 and its two-hundred day moving average price is $101.40.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 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 will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is currently 69.73%.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of the 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 transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently bought and sold shares of the company. Great Lakes Advisors LLC bought a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $1,147,000. Danske Bank A S acquired a new stake in shares of Pinnacle West Capital in the second quarter valued at approximately $171,000. Wealthfront Advisers LLC lifted its position in shares of Pinnacle West Capital by 61.0% in the second quarter. Wealthfront Advisers LLC now owns 3,532 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 1,338 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Pinnacle West Capital by 7.6% in the second quarter. Meeder Advisory Services Inc. now owns 4,939 shares of the utilities provider’s stock worth $528,000 after purchasing an additional 350 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Pinnacle West Capital by 52.5% in the second quarter. Quent Capital LLC now owns 880 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds 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.