KeyCorp Research Analysts Boost Earnings Estimates for PNW

Pinnacle West Capital Corporation (NYSE:PNW) – Investment analysts at KeyCorp boosted their FY2027 earnings per share (EPS) estimates for Pinnacle West Capital in a note issued to investors on Monday, October 12th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $5.64 per share for the year, up from their previous estimate of $5.63. 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 FY2028 earnings at $6.06 EPS, FY2029 earnings at $6.52 EPS and FY2030 earnings at $7.03 EPS.

Several other research analysts have also recently issued reports on the stock. TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Scotiabank assumed coverage on shares of Pinnacle West Capital in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $104.00 price target on the stock. Truist Financial reduced their price target on shares of Pinnacle West Capital from $101.00 to $99.00 and set a “hold” rating for the company in a research report on Monday, October 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Finally, Barclays decreased their price objective on shares of Pinnacle West Capital from $108.00 to $94.00 and set an “equal weight” rating for the company in a report on Thursday, October 1st. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.64.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $101.53 on Wednesday. Pinnacle West Capital has a one year low of $86.18 and a one year high of $111.16. The company’s 50-day moving average is $97.18 and its 200 day moving average is $101.09. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 3.63 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS.

Hedge Funds Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Pinnacle West Capital during the second quarter valued at about $703,598,000. ATLAS Infrastructure Partners UK Ltd. increased its position in 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 buying an additional 1,369,350 shares in the last quarter. Soroban Capital Partners LP raised its stake 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 buying an additional 977,411 shares during the period. Wellington Management Group LLP raised its stake in shares of Pinnacle West Capital by 101.3% in the second quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider’s stock worth $155,893,000 after buying an additional 733,069 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Pinnacle West Capital in the second quarter worth about $64,952,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pinnacle West Capital

In related news, CAO Elizabeth Blankenship sold 980 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Luis Esparza, Jr. sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by insiders.

About Pinnacle West Capital

Pinnacle West Capital Corporation (NYSE:PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers across Arizona.

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona’s growing energy needs.