Pinnacle West Capital (NYSE:PNW) Stock Picked Up by Analysts at Scotiabank

Stock analysts at Scotiabank started coverage on shares of Pinnacle West Capital (NYSE:PNW) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “sector outperform” rating and a $104.00 price target on the utilities provider’s stock. Scotiabank’s price objective points to a potential upside of 13.98% from the company’s current price.

PNW has been the subject of several other research reports. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Barclays raised their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Truist Financial decreased their price target on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a report on Monday, August 17th. Finally, TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.21.

Pinnacle West Capital Trading Down 0.5%

Shares of Pinnacle West Capital stock opened at $91.25 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The firm has a fifty day moving average price of $98.67 and a 200 day moving average price of $101.34. Pinnacle West Capital has a 1 year low of $86.18 and a 1 year high of $111.16. The stock has a market cap of $11.06 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.45.

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

Insider Buying and Selling

In other news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This trade represents a 26.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Pinnacle West Capital in the 2nd quarter valued at $703,598,000. ATLAS Infrastructure Partners UK Ltd. grew its holdings in shares of Pinnacle West Capital by 44.3% during 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 buying an additional 1,369,350 shares in the last quarter. Soroban Capital Partners LP raised its position in shares of Pinnacle West Capital by 34.0% in the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after buying an additional 977,411 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pinnacle West Capital by 0.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock valued at $305,344,000 after buying an additional 9,298 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock worth $274,117,000 after buying an additional 27,861 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation (NYSE: PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.