Wells Fargo & Company Forecasts Strong Price Appreciation for Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital (NYSE:PNW) had its price objective raised by Wells Fargo & Company from $91.00 to $97.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.25% from the company’s current price.

A number of other brokerages also recently weighed in on PNW. Zacks Research raised Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. BMO Capital Markets boosted their target price on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a report on Thursday. Royal Bank Of Canada restated a “sector perform” rating and issued a $103.00 price target on shares of Pinnacle West Capital in a research note on Friday, January 23rd. KeyCorp cut shares of Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 12th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.08.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $100.26 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $93.19 and its two-hundred day moving average price is $90.72. Pinnacle West Capital has a 1 year low of $85.32 and a 1 year high of $101.13. The firm has a market capitalization of $12.12 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 5.99 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.86%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Pinnacle West Capital by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock valued at $1,322,482,000 after buying an additional 316,629 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Pinnacle West Capital by 8.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after buying an additional 568,581 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. lifted its holdings in shares of Pinnacle West Capital by 44.3% during 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 acquiring an additional 1,369,350 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Pinnacle West Capital by 1.8% during the 4th quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock worth $376,910,000 after acquiring an additional 74,023 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.