Pinnacle West Capital (NYSE:PNW) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Pinnacle West Capital (NYSE:PNW) announced its quarterly earnings results on Tuesday. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03), FiscalAI reports. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital updated its FY 2026 guidance to 4.550-4.750 EPS.

Pinnacle West Capital Stock Up 0.3%

PNW stock traded up $0.29 on Tuesday, hitting $101.10. 254,588 shares of the company’s stock were exchanged, compared to its average volume of 1,254,875. The firm has a 50 day moving average price of $104.53 and a two-hundred day moving average price of $101.13. Pinnacle West Capital has a 12-month low of $85.32 and a 12-month high of $111.16. The stock has a market cap of $12.25 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is 67.78%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the firm’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 completion of the sale, the executive vice president owned 6,634 shares of the company’s stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

Several hedge funds have recently modified their holdings of the stock. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of Pinnacle West Capital in the second quarter worth $32,000. Brown Brothers Harriman & Co. raised its holdings in shares of Pinnacle West Capital by 102.1% in the third quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock worth $87,000 after buying an additional 488 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth $88,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNW. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Truist Financial cut their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, Barclays increased their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average price target of $104.07.

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.