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

Stock analysts at HSBC assumed coverage on shares of Pinnacle West Capital (NYSE:PNW) in a research note issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $119.50 price target on the utilities provider’s stock. HSBC’s price target suggests a potential upside of 14.96% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Pinnacle West Capital from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays dropped their price target on shares of Pinnacle West Capital from $108.00 to $94.00 and set an “equal weight” rating for the company in a research report on Thursday, October 1st. Jefferies Financial Group cut their price target on shares of Pinnacle West Capital from $129.00 to $109.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. BMO Capital Markets decreased their price target 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $103.39.

Pinnacle West Capital Stock Up 1.0%

Shares of NYSE:PNW opened at $103.95 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.69 and a beta of 0.43. The stock’s 50-day moving average price is $97.43 and its two-hundred day moving average price is $101.17. Pinnacle West Capital has a 12-month low of $86.18 and a 12-month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, research analysts forecast that Pinnacle West Capital will post 4.80 EPS for the current year.

Insider Activity

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 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. The trade was a 26.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 sale, the chief accounting officer 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 SEC filing for this sale provides additional information. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Pictet & Cie SA purchased a new stake in Pinnacle West Capital during the third quarter worth approximately $1,635,000. V Square Quantitative Management LLC boosted its position in Pinnacle West Capital by 23.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,986 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 765 shares during the period. Envestnet Asset Management Inc. increased its holdings in Pinnacle West Capital by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,227 shares of the utilities provider’s stock valued at $21,531,000 after purchasing an additional 818 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pinnacle West Capital by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,651 shares of the utilities provider’s stock valued at $26,606,000 after purchasing an additional 5,199 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Pinnacle West Capital by 45.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider’s stock valued at $1,588,000 after purchasing an additional 4,620 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Pinnacle West Capital

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

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.