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

Shares of Pinnacle West Capital Corporation (NYSE:PNW) have been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $103.5714.

A number of brokerages have issued reports on PNW. Truist Financial cut their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Morgan Stanley lowered their price objective on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Barclays upped their target price 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. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a report on Wednesday, July 8th.

Insider Buying and Selling at Pinnacle West Capital

In related news, CAO Elizabeth A. Blankenship sold 980 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. The trade was a 8.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total value of $183,618.00. Following the sale, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinnacle West Capital

A number of hedge funds have recently bought and sold shares of PNW. California State Teachers Retirement System increased its stake in shares of Pinnacle West Capital by 10,353.5% during the second quarter. California State Teachers Retirement System now owns 14,979,144 shares of the utilities provider’s stock worth $1,602,768,000 after buying an additional 14,835,851 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Pinnacle West Capital in the second quarter valued at approximately $703,598,000. Norges Bank purchased a new position in Pinnacle West Capital in the fourth quarter worth approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after acquiring an additional 1,369,350 shares during the last quarter. Finally, Soroban Capital Partners LP grew its holdings in 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 worth $388,373,000 after acquiring an additional 977,411 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.0%

NYSE:PNW opened at $97.66 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. The stock’s fifty day moving average is $103.63 and its two-hundred day moving average is $102.00. Pinnacle West Capital has a 52 week low of $85.32 and a 52 week high of $111.16. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44.

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

Pinnacle West Capital Announces Dividend

The business 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. 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 3.7%. Pinnacle West Capital’s dividend payout ratio is currently 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.