Pinnacle West Capital (NYSE:PNW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pinnacle West Capital (NYSE:PNW) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other research analysts have also issued reports on PNW. Truist Financial cut their price target on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. 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. Barclays lowered their target price on Pinnacle West Capital from $108.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Finally, Scotiabank started coverage on shares of Pinnacle West Capital in a research report on Tuesday, September 29th. They issued a “sector outperform” rating and a $104.00 price target for the company. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.64.

Pinnacle West Capital Stock Up 0.0%

Pinnacle West Capital stock opened at $95.96 on Friday. The company has a market capitalization of $11.63 billion, a PE ratio of 18.38, a PEG ratio of 3.50 and a beta of 0.43. Pinnacle West Capital has a 12-month low of $86.18 and a 12-month high of $111.16. The firm’s fifty day moving average is $97.55 and its 200 day moving average is $101.08. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last posted 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). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts predict that Pinnacle West Capital will post 4.72 EPS for the current fiscal year.

Insider Transactions at Pinnacle West Capital

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

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in PNW. Envestnet Asset Management Inc. boosted its holdings in shares of Pinnacle West Capital by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 201,227 shares of the utilities provider’s stock worth $21,531,000 after acquiring an additional 818 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Pinnacle West Capital by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 248,651 shares of the utilities provider’s stock valued at $26,606,000 after purchasing an additional 5,199 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Pinnacle West Capital by 45.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider’s stock valued at $1,588,000 after purchasing an additional 4,620 shares during the period. Tidal Investments LLC raised its stake in shares of Pinnacle West Capital by 233.3% during the 2nd quarter. Tidal Investments LLC now owns 35,637 shares of the utilities provider’s stock valued at $3,813,000 after purchasing an additional 24,946 shares during the period. Finally, MCF Advisors LLC lifted its holdings in Pinnacle West Capital by 11.7% during the 2nd quarter. MCF Advisors LLC now owns 10,889 shares of the utilities provider’s stock worth $1,165,000 after purchasing an additional 1,142 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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 a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers across Arizona.

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona’s growing energy needs.