Morgan Stanley Issues Pessimistic Forecast for Pinnacle West Capital (NYSE:PNW) Stock Price

Pinnacle West Capital (NYSE:PNW) had its price objective dropped by analysts at Morgan Stanley from $94.00 to $89.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 5.46% from the company’s previous close.

Several other analysts have also issued reports on PNW. TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Barclays increased their price objective on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. BMO Capital Markets dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.23.

Pinnacle West Capital Stock Performance

PNW stock traded down $1.45 on Friday, reaching $94.14. 396,320 shares of the company were exchanged, compared to its average volume of 1,202,791. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. Pinnacle West Capital has a 12 month low of $85.70 and a 12 month high of $111.16. The stock’s fifty day moving average price is $100.87 and its 200 day moving average price is $101.80. The firm has a market capitalization of $11.41 billion, a PE ratio of 18.04, a PEG ratio of 3.47 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. Pinnacle West Capital’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, research analysts anticipate that Pinnacle West Capital will post 4.71 EPS for the current fiscal year.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth Blankenship sold 980 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the completion of the sale, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the sale, the senior vice president owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by insiders.

Institutional Trading of Pinnacle West Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Pinnacle West Capital during the second quarter worth $703,598,000. Norges Bank acquired a new position in Pinnacle West Capital during the fourth quarter worth about $140,468,000. ATLAS Infrastructure Partners UK Ltd. raised its stake in Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock valued at $395,712,000 after purchasing an additional 1,369,350 shares during the last quarter. Soroban Capital Partners LP lifted its holdings in Pinnacle West Capital by 34.0% in the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after purchasing an additional 977,411 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Pinnacle West Capital by 101.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider’s stock worth $155,893,000 after purchasing an additional 733,069 shares during the last quarter. Hedge funds and other institutional investors 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 an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.