Pinnacle West Capital (NYSE:PNW) Hits New 52-Week High After Dividend Announcement

Pinnacle West Capital Corporation (NYSE:PNW) reached a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $105.50 and last traded at $104.9860, with a volume of 29961 shares changing hands. The stock had previously closed at $104.05.

The newly announced 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 of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. Pinnacle West Capital’s dividend payout ratio is currently 67.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. BMO Capital Markets boosted their price objective on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. Morgan Stanley set a $95.00 target price on shares of Pinnacle West Capital in a report on Wednesday. Truist Financial lowered their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a report on Friday, May 29th. Finally, TD Cowen lifted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $102.71.

Pinnacle West Capital Price Performance

The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 3.86 and a beta of 0.44. 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 stock has a fifty day moving average of $101.86 and a 200-day moving average of $97.68.

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

Insider Activity at Pinnacle West Capital

In other 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNW. Empowered Funds LLC grew its position in shares of Pinnacle West Capital by 89.1% during the first quarter. Empowered Funds LLC now owns 5,988 shares of the utilities provider’s stock worth $603,000 after acquiring an additional 2,822 shares during the last quarter. US Asset Management LLC acquired a new stake in Pinnacle West Capital during the 1st quarter worth $327,000. Chelsea Counsel Co. grew its position in Pinnacle West Capital by 9.0% during the 1st quarter. Chelsea Counsel Co. now owns 5,189 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 430 shares during the last quarter. Parallel Advisors LLC increased its stake in Pinnacle West Capital by 31.8% in the first quarter. Parallel Advisors LLC now owns 5,017 shares of the utilities provider’s stock valued at $505,000 after purchasing an additional 1,211 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in shares of Pinnacle West Capital by 5.1% in the first quarter. Glenmede Trust Co. NA now owns 7,718 shares of the utilities provider’s stock valued at $778,000 after buying an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Pinnacle West Capital

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.