Citigroup Increases Pinnacle West Capital (NYSE:PNW) Price Target to $109.00

Pinnacle West Capital (NYSE:PNW) had its target price hoisted by research analysts at Citigroup from $100.00 to $109.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. Citigroup’s price objective points to a potential upside of 8.72% from the company’s current price.

A number of other research analysts have also recently issued reports on PNW. KeyCorp cut Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 12th. UBS Group boosted their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Morgan Stanley set a $96.00 target price on Pinnacle West Capital in a research note on Friday, February 20th. BMO Capital Markets lifted 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 note on Thursday. Finally, Zacks Research upgraded shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $100.08.

Pinnacle West Capital Stock Up 0.7%

Shares of NYSE:PNW opened at $100.26 on Thursday. The company has a 50 day moving average price of $93.19 and a two-hundred day moving average price of $90.72. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.49 and a current ratio of 0.67. The company has a market capitalization of $12.12 billion, a PE ratio of 19.81, a PEG ratio of 5.99 and a beta of 0.54. Pinnacle West Capital has a 52 week low of $85.32 and a 52 week high of $101.13.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly 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. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.86%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted ($0.06) earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Institutional Trading of Pinnacle West Capital

A number of institutional investors have recently made changes to their positions in PNW. AE Wealth Management LLC increased its position in shares of Pinnacle West Capital by 4,666.1% in the second quarter. AE Wealth Management LLC now owns 139,599 shares of the utilities provider’s stock valued at $12,490,000 after acquiring an additional 136,670 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Pinnacle West Capital in the third quarter valued at approximately $16,292,000. Y Intercept Hong Kong Ltd grew its stake in Pinnacle West Capital by 164.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,748 shares of the utilities provider’s stock valued at $4,012,000 after purchasing an additional 27,832 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Pinnacle West Capital by 556.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,208 shares of the utilities provider’s stock worth $1,633,000 after purchasing an additional 15,434 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Pinnacle West Capital during the 3rd quarter worth approximately $2,234,000. 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.