Pinnacle West Capital (NYSE:PNW) Raised to Hold at Zacks Research

Pinnacle West Capital (NYSE:PNW) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $99.00 target price on shares of Pinnacle West Capital in a research report on Monday, October 20th. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Argus lowered their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. Finally, Barclays upped their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $97.54.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $88.78 on Monday. Pinnacle West Capital has a 1-year low of $81.47 and a 1-year high of $96.50. The firm’s 50-day moving average price is $89.40 and its two-hundred day moving average price is $90.41. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 9.23 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.Pinnacle West Capital’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.37 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. On average, equities analysts predict that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinnacle West Capital

Institutional investors have recently modified their holdings of the stock. Clearstead Trust LLC acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at approximately $25,000. Costello Asset Management INC acquired a new stake in Pinnacle West Capital in the first quarter worth $26,000. Caldwell Trust Co acquired a new stake in Pinnacle West Capital in the second quarter worth $27,000. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the second quarter worth $27,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $29,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.