Pinnacle West Capital (NYSE:PNW) Hits New 52-Week High – Time to Buy?

Pinnacle West Capital Corporation (NYSE:PNW)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.08 and last traded at $104.7050, with a volume of 91987 shares changing hands. The stock had previously closed at $103.27.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNW shares. Truist Financial lowered 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. Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Barclays raised their target price on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus set a $107.00 target price on shares of Pinnacle West Capital in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $102.50.

Pinnacle West Capital Stock Performance

The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $101.76 and its two-hundred day moving average price is $97.04. The company has a market cap of $12.40 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 3.80 and a beta of 0.44.

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

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 4th. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.78%.

Insider Activity at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Pinnacle West Capital

Several institutional investors have recently made changes to their positions in PNW. Aristotle Capital Boston LLC bought a new position in Pinnacle West Capital during the third quarter valued at approximately $1,007,000. Gotham Asset Management LLC raised its position in Pinnacle West Capital by 37.4% during the third quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after acquiring an additional 100,120 shares in the last quarter. First Trust Advisors LP raised its position in Pinnacle West Capital by 6.3% during the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after acquiring an additional 76,930 shares in the last quarter. DNB Asset Management AS raised its position in Pinnacle West Capital by 61.3% during the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock valued at $3,978,000 after acquiring an additional 17,037 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in Pinnacle West Capital by 53.0% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock valued at $24,654,000 after acquiring an additional 96,236 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.