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

Shares of Pinnacle West Capital Corporation (NYSE:PNW) hit a new 52-week high during trading on Monday . The stock traded as high as $117.25 and last traded at $117.25, with a volume of 11376 shares traded. The stock had previously closed at $106.06.

Analyst Ratings Changes

PNW has been the subject of a number of research reports. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Barclays upped their price objective on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, BMO Capital Markets reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday. Three investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $104.07.

Pinnacle West Capital Price Performance

The business’s fifty day simple moving average is $104.42 and its 200-day simple moving average is $100.56. 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 firm has a market cap of $14.21 billion, a P/E ratio of 21.83, a PEG ratio of 3.86 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.Pinnacle West Capital’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts forecast that Pinnacle West Capital Corporation will post 4.74 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given 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 3.1%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.78%.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were 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 directly owned 6,634 shares in the company, valued at approximately $656,766. The trade was a 49.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Pinnacle West Capital in the fourth quarter worth approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. grew its holdings in shares of Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after acquiring an additional 1,369,350 shares during the period. Soroban Capital Partners LP grew its holdings in shares of Pinnacle West Capital by 34.0% in the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after acquiring an additional 977,411 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Pinnacle West Capital during the fourth quarter valued at $68,008,000. Finally, Wellington Management Group LLP purchased a new stake in Pinnacle West Capital during the fourth quarter valued at $57,379,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

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.