Pinnacle West Capital Corporation (NYSE:PNW) Stock Has Consensus Target Price of $104.23 According to Brokerages

Shares of Pinnacle West Capital Corporation (NYSE:PNW) have received an average rating of “Hold” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $104.21.

Several analysts have issued reports on PNW shares. BMO Capital Markets lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. 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 report on Wednesday, July 1st. Truist Financial dropped their price objective on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a research note on Monday, August 17th. Finally, Jefferies Financial Group restated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th.

Insider Transactions at Pinnacle West Capital

In other news, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Elizabeth Blankenship sold 980 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Pinnacle West Capital by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 201,227 shares of the utilities provider’s stock worth $21,531,000 after acquiring an additional 818 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Pinnacle West Capital by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 248,651 shares of the utilities provider’s stock valued at $26,606,000 after acquiring an additional 5,199 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Pinnacle West Capital by 45.2% in the second quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider’s stock valued at $1,588,000 after acquiring an additional 4,620 shares during the last quarter. Tidal Investments LLC raised its position in Pinnacle West Capital by 233.3% during the second quarter. Tidal Investments LLC now owns 35,637 shares of the utilities provider’s stock valued at $3,813,000 after purchasing an additional 24,946 shares in the last quarter. Finally, MCF Advisors LLC raised its position in Pinnacle West Capital by 11.7% during the second quarter. MCF Advisors LLC now owns 10,889 shares of the utilities provider’s stock valued at $1,165,000 after purchasing an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 2.2%

Shares of NYSE PNW opened at $93.29 on Wednesday. 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 company has a market cap of $11.31 billion, a P/E ratio of 17.87, a P/E/G ratio of 3.33 and a beta of 0.45. Pinnacle West Capital has a 52 week low of $86.18 and a 52 week high of $111.16. The business has a 50-day simple moving average of $98.43 and a two-hundred day simple moving average of $101.29.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts anticipate that Pinnacle West Capital will post 4.72 earnings per share for the current fiscal year.

About Pinnacle West Capital

Pinnacle West Capital Corporation (NYSE:PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers across Arizona.

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona’s growing energy needs.