Pinnacle West Capital (NYSE:PNW) Hits New 1-Year High – Here’s Why

Pinnacle West Capital Corporation (NYSE:PNW) reached a new 52-week high on Tuesday . The stock traded as high as $108.41 and last traded at $108.2640, with a volume of 362018 shares changing hands. The stock had previously closed at $107.86.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays upped their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley set a $95.00 price objective on Pinnacle West Capital in a research report on Wednesday, June 24th. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Finally, Truist Financial decreased their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and a consensus target price of $103.14.

Pinnacle West Capital Trading Up 2.5%

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 simple moving average of $102.17 and a 200 day simple moving average of $98.26. The firm has a market capitalization of $13.20 billion, a P/E ratio of 20.27, a PEG ratio of 3.91 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.30. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts forecast that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is 67.78%.

Insider Activity

In other 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 completion of the transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently bought and sold shares of PNW. Empowered Funds LLC lifted its stake in Pinnacle West Capital by 89.1% in the first quarter. Empowered Funds LLC now owns 5,988 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 2,822 shares during the last quarter. US Asset Management LLC purchased a new stake in shares of Pinnacle West Capital during the 1st quarter worth $327,000. Chelsea Counsel Co. lifted its position in Pinnacle West Capital by 9.0% during the first quarter. Chelsea Counsel Co. now owns 5,189 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 430 shares during the last quarter. Parallel Advisors LLC raised 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 buying an additional 1,211 shares during the last quarter. 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 worth $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.