Pinnacle West Capital (NYSE:PNW) Hits New 1-Year High After Dividend Announcement

Pinnacle West Capital Corporation (NYSE:PNW)’s share price hit a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $105.50 and last traded at $104.9860, with a volume of 29961 shares changing hands. The stock had previously closed at $104.05.

The newly announced dividend which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. Pinnacle West Capital’s payout ratio is currently 67.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PNW shares. Morgan Stanley set a $95.00 price target on shares of Pinnacle West Capital in a research report on Wednesday. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Truist Financial reduced their target price on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a report on Friday, May 29th. Argus raised their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Citigroup lifted their price target on Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.71.

Pinnacle West Capital Trading Up 1.8%

The business’s 50-day simple moving average is $101.86 and its 200-day simple moving average is $97.68. The company has a market cap of $12.99 billion, a PE ratio of 19.97, a P/E/G ratio of 3.86 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted ($0.04) EPS. Pinnacle West Capital’s revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts expect that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares in the company, valued at $656,766. The trade was a 49.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Trading of Pinnacle West Capital

A number of institutional investors have recently added to or reduced their stakes in PNW. CYBER HORNET ETFs LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth $27,000. MUFG Securities EMEA plc acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at $32,000. Clearstead Advisors LLC lifted its stake in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 185 shares during the last quarter. Dorato Capital Management bought a new stake in Pinnacle West Capital in the fourth quarter worth $69,000. Finally, EverSource Wealth Advisors LLC increased its position in Pinnacle West Capital by 55.5% during the first quarter. EverSource Wealth Advisors LLC now owns 827 shares of the utilities provider’s stock worth $83,000 after buying an additional 295 shares during 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 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.