Pinnacle West Capital (NYSE:PNW) Hits New 52-Week High – Here’s Why

Pinnacle West Capital Corporation (NYSE:PNW)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $108.41 and last traded at $108.2640, with a volume of 362018 shares changing hands. The stock had previously closed at $107.86.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial reduced their price objective on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, May 29th. TD Cowen raised their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Barclays lifted their price target on Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Argus boosted their price target on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley set a $95.00 price objective on Pinnacle West Capital in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.71.

Pinnacle West Capital Stock Performance

The stock’s 50-day simple moving average is $102.04 and its 200-day simple moving average is $97.97. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.95 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Pinnacle West Capital’s revenue for the quarter was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.4%. Pinnacle West Capital’s payout ratio is currently 67.78%.

Insiders Place Their Bets

In other news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its position in Pinnacle West Capital by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after buying an additional 100 shares in the last quarter. Excelsior Advisor Network LLC grew its holdings in shares of Pinnacle West Capital by 4.3% in the 1st quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock valued at $264,000 after acquiring an additional 108 shares in the last quarter. Empowered Funds LLC increased its position in shares of Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock valued at $281,000 after acquiring an additional 116 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Pinnacle West Capital by 2.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 131 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 140 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.