Pinnacle West Capital Q3 Earnings Forecast Raised by KeyCorp

Pinnacle West Capital Corporation (NYSE:PNW) – Stock analysts at KeyCorp increased their Q3 2026 earnings estimates for Pinnacle West Capital in a research note issued to investors on Monday, October 12th. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $3.70 per share for the quarter, up from their prior forecast of $3.12. The consensus estimate for Pinnacle West Capital’s current full-year earnings is $4.73 per share. KeyCorp also issued estimates for Pinnacle West Capital’s Q4 2026 earnings at ($0.10) EPS and FY2026 earnings at $5.30 EPS.

A number of other analysts have also recently commented on PNW. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Truist Financial lowered their price objective on shares of Pinnacle West Capital from $101.00 to $99.00 and set a “hold” rating on the stock in a research note on Monday, October 5th. BMO Capital Markets dropped 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 report on Wednesday, July 22nd. Scotiabank started coverage on shares of Pinnacle West Capital in a research note on Tuesday, September 29th. They issued a “sector outperform” rating and a $104.00 target price for the company. Finally, TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $102.03 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. The stock’s 50-day simple moving average is $97.19 and its 200 day simple moving average is $101.12. The company has a market cap of $12.37 billion, a P/E ratio of 19.46, a P/E/G ratio of 3.70 and a beta of 0.43. Pinnacle West Capital has a 52-week low of $86.18 and a 52-week high of $111.16.

Pinnacle West Capital (NYSE:PNW) last released its earnings results 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 business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $1.58 EPS. The firm’s revenue for the quarter 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.

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds have recently bought and sold shares of PNW. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pinnacle West Capital during the second quarter worth about $703,598,000. ATLAS Infrastructure Partners UK Ltd. grew its stake 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 during the last quarter. Soroban Capital Partners LP increased its holdings in shares of Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after buying an additional 977,411 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pinnacle West Capital by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock worth $305,344,000 after buying an additional 9,298 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Pinnacle West Capital by 101.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider’s stock valued at $155,893,000 after acquiring an additional 733,069 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares of the company’s stock, valued at $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the sale, the chief accounting officer owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company’s stock.

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 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.