Pinnacle West Capital (NYSE:PNW) Raised to “Hold” at Zacks Research

Pinnacle West Capital (NYSE:PNW) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Barclays boosted their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. UBS Group lifted their price objective on Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Argus reduced their price objective on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Finally, Mizuho cut Pinnacle West Capital from an “outperform” rating to a “neutral” rating and cut their target price for the company from $102.00 to $90.00 in a research note on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.54.

Pinnacle West Capital Trading Up 0.1%

NYSE:PNW traded up $0.12 during trading hours on Monday, hitting $88.89. The company had a trading volume of 216,446 shares, compared to its average volume of 1,156,946. The company has a 50-day moving average of $89.40 and a 200 day moving average of $90.41. Pinnacle West Capital has a 1 year low of $81.47 and a 1 year high of $96.50. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The company has a market cap of $10.64 billion, a P/E ratio of 18.29, a P/E/G ratio of 9.23 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping the consensus estimate of $3.04 by $0.35. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Sell-side analysts expect that Pinnacle West Capital will post 5.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $417,000. Allworth Financial LP increased its holdings in Pinnacle West Capital by 19.1% in the first quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 125 shares during the period. Xponance Inc. grew its position in shares of Pinnacle West Capital by 2.8% in the 1st quarter. Xponance Inc. now owns 9,702 shares of the utilities provider’s stock valued at $924,000 after buying an additional 265 shares during the last quarter. Ballentine Partners LLC bought a new position in Pinnacle West Capital during the 1st quarter worth approximately $210,000. Finally, Stephens Inc. AR lifted its position in shares of Pinnacle West Capital by 5.6% in the 1st quarter. Stephens Inc. AR now owns 4,681 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

About Pinnacle West Capital

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.