Pinnacle West Capital (NYSE:PNW) Reaches New 12-Month High – Time to Buy?

Pinnacle West Capital Corporation (NYSE:PNW) hit a new 52-week high on Thursday . The stock traded as high as $104.20 and last traded at $104.36, with a volume of 12979 shares trading hands. The stock had previously closed at $103.12.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PNW shares. UBS Group raised their price target on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $103.00 price target on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research report on Thursday, February 26th. KeyCorp lowered shares of Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.92.

Pinnacle West Capital Stock Performance

The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54. The stock has a market cap of $12.64 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 3.77 and a beta of 0.49. The company’s 50 day simple moving average is $99.11 and its 200 day simple moving average is $93.01.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently modified their holdings of PNW. Norges Bank purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. increased its stake 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 purchasing an additional 1,369,350 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $68,008,000. Capital Research Global Investors increased its stake in shares of Pinnacle West Capital by 5.0% during the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock worth $1,421,407,000 after purchasing an additional 758,190 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Pinnacle West Capital during the 4th quarter worth approximately $57,379,000. 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.