Pinnacle West Capital (NYSE:PNW) Reaches New 1-Year High – Here’s What Happened

Pinnacle West Capital Corporation (NYSE:PNW) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.08 and last traded at $104.7050, with a volume of 91987 shares changing hands. The stock had previously closed at $103.27.

Analysts Set New Price Targets

PNW has been the subject of several analyst reports. TD Cowen lifted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Citigroup upped their price objective on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Barclays raised their price objective on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings raised Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.50.

Pinnacle West Capital Trading Up 1.4%

The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average is $101.74 and its two-hundred day moving average is $96.87. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.30. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were issued a $0.91 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Pinnacle West Capital

A number of institutional investors have recently bought and sold shares of PNW. Norges Bank bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. boosted its position in shares of 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 worth $395,712,000 after purchasing an additional 1,369,350 shares during the last quarter. Soroban Capital Partners LP grew its stake in shares of Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after purchasing an additional 977,411 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Pinnacle West Capital during the fourth quarter worth $68,008,000. Finally, Capital Research Global Investors increased its holdings in Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after purchasing an additional 758,190 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 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.