Pinnacle West Capital (NYSE:PNW) Announces Earnings Results

Pinnacle West Capital (NYSE:PNW) posted its quarterly earnings results on Tuesday. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03), FiscalAI reports. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 earnings per share. Pinnacle West Capital updated its FY 2026 guidance to 4.550-4.750 EPS.

Pinnacle West Capital Stock Up 0.4%

Shares of NYSE PNW traded up $0.42 during midday trading on Tuesday, reaching $101.23. 318,420 shares of the company’s stock were exchanged, compared to its average volume of 1,255,302. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. Pinnacle West Capital has a 52-week low of $85.32 and a 52-week high of $111.16. The business’s fifty day moving average price is $104.53 and its two-hundred day moving average price is $101.13. The stock has a market capitalization of $12.27 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital’s payout ratio is 67.78%.

Wall Street Analyst Weigh In

A number of research firms have commented on PNW. Argus raised their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Morgan Stanley set a $97.00 target price on Pinnacle West Capital in a research note on Wednesday, July 22nd. Barclays raised their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $104.07.

Key Pinnacle West Capital News

Here are the key news stories impacting Pinnacle West Capital this week:

• Positive Sentiment: Second-quarter revenue rose 7.1% year over year to $1.46 billion, exceeding the $1.40 billion consensus estimate. The revenue growth provides a positive signal for the utility’s operating performance. Pinnacle West quarterly results
• Neutral Sentiment: Pinnacle West reaffirmed fiscal 2026 EPS guidance of $4.55 to $4.75. The midpoint of $4.65 is slightly below the $4.70 analyst consensus, suggesting limited near-term upside to earnings expectations, although the range remains intact. Pinnacle West reports quarterly earnings
• Negative Sentiment: Second-quarter EPS was $1.43, below estimates ranging from $1.46 to $1.49 and down from $1.58 a year earlier. The earnings decline, despite revenue growth, points to pressure on profitability and was the main negative factor in the report. Pinnacle West Q2 earnings miss
• Negative Sentiment: The company entered into an agreement allowing it to sell up to $500 million of common stock. While the proceeds could support capital investment and balance-sheet needs, the program creates potential shareholder dilution and may weigh on the stock. Pinnacle West $500 million equity program

Insider Activity

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $27,000. MUFG Securities EMEA plc purchased a new position in shares of Pinnacle West Capital during the second quarter valued at $32,000. Brown Brothers Harriman & Co. increased its holdings in shares of Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 488 shares during the period. Kestra Advisory Services LLC acquired a new position in Pinnacle West Capital in the 4th quarter valued at approximately $88,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds 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.