What is KeyCorp’s Forecast for PNW Q2 Earnings?

Pinnacle West Capital Corporation (NYSE:PNW) – Investment analysts at KeyCorp issued their Q2 2026 earnings per share estimates for shares of Pinnacle West Capital in a research note issued to investors on Wednesday, July 22nd. KeyCorp analyst S. Karp forecasts that the utilities provider will post earnings of $1.45 per share for the quarter. The consensus estimate for Pinnacle West Capital’s current full-year earnings is $4.73 per share. KeyCorp also issued estimates for Pinnacle West Capital’s Q3 2026 earnings at $3.12 EPS, FY2026 earnings at $4.71 EPS, FY2028 earnings at $6.05 EPS and FY2029 earnings at $6.50 EPS.

A number of other research firms have also recently commented on PNW. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Barclays lifted 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 report on Wednesday, July 1st. TD Cowen boosted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. 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, 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 report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.07.

Pinnacle West Capital Stock Down 0.9%

PNW stock opened at $105.37 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital has a 12 month low of $85.32 and a 12 month high of $111.16. The firm has a market capitalization of $12.77 billion, a PE ratio of 19.62, a P/E/G ratio of 3.87 and a beta of 0.43. The company’s 50 day simple moving average is $104.26 and its 200-day simple moving average is $100.43.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results 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. The firm 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 firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Pinnacle West Capital during the 4th quarter worth $140,468,000. ATLAS Infrastructure Partners UK Ltd. lifted its holdings in shares of Pinnacle West Capital by 44.3% during the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock valued at $395,712,000 after purchasing an additional 1,369,350 shares during the last quarter. Soroban Capital Partners LP lifted its holdings in shares of Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after purchasing an additional 977,411 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $68,008,000. Finally, Wellington Management Group LLP acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $57,379,000. 91.51% of the stock is owned by institutional investors.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 6,634 shares in the company, valued at $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 is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.5%. Pinnacle West Capital’s payout ratio is presently 67.78%.

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.