Pinnacle West Capital (NYSE:PNW) Stock Rated Sector Outperform in New Coverage at Scotiabank

Scotiabank started coverage on shares of Pinnacle West Capital (NYSE:PNW) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a sector outperform rating and a $104.00 target price on the utilities provider’s stock.

A number of other equities analysts have also commented on PNW. BMO Capital Markets cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Barclays raised their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Truist Financial dropped their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Finally, Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $94.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 18th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $103.21.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $94.60 on Tuesday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 3.39 and a beta of 0.43. Pinnacle West Capital has a twelve month low of $86.18 and a twelve month high of $111.16. The company’s fifty day moving average is $97.95 and its 200 day moving average is $101.17. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts forecast that Pinnacle West Capital will post 4.72 EPS for the current year.

Insider Buying and Selling

In other Pinnacle West Capital news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on 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 owned 4,910 shares in the company, valued at $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Pinnacle West Capital by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock valued at $1,386,000 after buying an additional 100 shares during the period. Excelsior Advisor Network LLC lifted its position in shares of Pinnacle West Capital by 4.3% during the 1st quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock valued at $264,000 after buying an additional 108 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of Pinnacle West Capital by 5.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 120 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 126 shares during the period. Finally, Empirical Finance LLC increased its holdings in Pinnacle West Capital by 3.5% in the 2nd quarter. Empirical Finance LLC now owns 4,143 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

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

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona’s growing energy needs.