KeyCorp Forecasts Higher Earnings for Pinnacle West Capital

Pinnacle West Capital Co. (NYSE:PNW) – Equities researchers at KeyCorp raised their FY2027 EPS estimates for shares of Pinnacle West Capital in a research report issued to clients and investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $6.05 per share for the year, up from their previous estimate of $5.61. The consensus estimate for Pinnacle West Capital’s current full-year earnings is $4.77 per share. KeyCorp also issued estimates for Pinnacle West Capital’s FY2028 earnings at $6.05 EPS.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.45. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS.

Other analysts have also recently issued reports about the stock. Barclays lowered their price target on shares of Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on Pinnacle West Capital from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They set a “buy” rating and a $104.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $80.79.

Pinnacle West Capital Price Performance

PNW opened at $88.20 on Thursday. The firm has a market capitalization of $10.02 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48. The business’s 50-day moving average is $88.23 and its two-hundred day moving average is $81.67. Pinnacle West Capital has a 1 year low of $65.20 and a 1 year high of $91.57.

Institutional Investors Weigh In On Pinnacle West Capital

Several hedge funds have recently bought and sold shares of PNW. Blue Trust Inc. boosted its holdings in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock worth $28,000 after buying an additional 291 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of Pinnacle West Capital during the 1st quarter valued at about $30,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Pinnacle West Capital in the 2nd quarter valued at about $52,000. First Horizon Advisors Inc. raised its holdings in Pinnacle West Capital by 20.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 137 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Pinnacle West Capital during the second quarter worth approximately $82,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Pinnacle West Capital news, Director Susan T. Flanagan acquired 500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $86.54 per share, with a total value of $43,270.00. Following the acquisition, the director now directly owns 750 shares of the company’s stock, valued at approximately $64,905. The trade was a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinnacle West Capital news, Director Susan T. Flanagan bought 500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $86.54 per share, for a total transaction of $43,270.00. Following the completion of the transaction, the director now directly owns 750 shares of the company’s stock, valued at approximately $64,905. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Edgar Smith sold 4,950 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the sale, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Pinnacle West Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.895 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.58 dividend on an annualized basis and a yield of 4.06%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s dividend payout ratio is currently 76.69%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.