Pinnacle West Capital Corporation (NYSE:PNW) Stock Has Consensus Price Target of $102.00 According to Analysts

Pinnacle West Capital Corporation (NYSE:PNW) has been given a consensus rating of “Hold” by the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $103.39.

Several equities research analysts have commented on PNW shares. HSBC initiated coverage on shares of Pinnacle West Capital in a report on Thursday. They issued a “buy” rating and a $119.50 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. BMO Capital Markets decreased their price objective 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. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th.

Insider Activity at Pinnacle West Capital

In related news, SVP Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elizabeth Blankenship sold 980 shares of the company’s stock in a transaction that occurred on 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 owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNW. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Pinnacle West Capital in the second quarter valued at approximately $703,598,000. Soroban Capital Partners LP boosted its holdings in shares of 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 buying an additional 977,411 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pinnacle West Capital by 0.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock valued at $305,344,000 after buying an additional 9,298 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Pinnacle West Capital by 101.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider’s stock valued at $155,893,000 after buying an additional 733,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Pinnacle West Capital by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,345,955 shares of the utilities provider’s stock valued at $135,604,000 after buying an additional 27,244 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 2.6%

Shares of NYSE:PNW opened at $106.59 on Friday. Pinnacle West Capital has a 52-week low of $86.18 and a 52-week high of $111.16. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 3.72 and a beta of 0.43. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $97.54 and a 200-day moving average price of $101.20.

Pinnacle West Capital (NYSE:PNW) last issued its 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 analysts’ expectations 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 in the prior year, the company earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts predict that Pinnacle West Capital will post 4.81 EPS for the current year.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be given a dividend of $0.9250 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.91. The ex-dividend date is Monday, November 2nd. This represents a $3.70 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital’s payout ratio is 69.73%.

About Pinnacle West Capital

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

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.