Pinnacle West Capital (NYSE:PNW) Sets New 12-Month High – What’s Next?

Pinnacle West Capital Corporation (NYSE:PNW)’s stock price hit a new 52-week high on Monday . The stock traded as high as $117.25 and last traded at $117.25, with a volume of 11376 shares. The stock had previously closed at $106.06.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of 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. Morgan Stanley set a $97.00 price target on Pinnacle West Capital in a report on Wednesday. TD Cowen upped their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.07.

Pinnacle West Capital Stock Performance

The company has a market cap of $14.21 billion, a PE ratio of 21.83, a PEG ratio of 3.86 and a beta of 0.43. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $104.42 and its two-hundred day moving average is $100.56.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.74 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.1%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at approximately $656,766. The trade was a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Several hedge funds have recently bought and sold shares of PNW. ATLAS Infrastructure Partners UK Ltd. grew its position in shares of Pinnacle West Capital by 44.3% during the fourth 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 in the last quarter. Invesco Ltd. boosted its stake in Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after buying an additional 74,023 shares during the last quarter. Soroban Capital Partners LP boosted its stake in 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 valued at $388,373,000 after buying an additional 977,411 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after buying an additional 27,861 shares during the last quarter. Finally, Norges Bank purchased a new position in Pinnacle West Capital during the 4th quarter valued at approximately $140,468,000. Hedge funds and other institutional investors 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.