Pinnacle West Capital Corporation (NYSE:PNW) Stock Has Average Price Target of $102.00

Pinnacle West Capital Corporation (NYSE:PNW) has been given an average rating of “Hold” by the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.39.

Several analysts recently commented on the stock. Truist Financial cut their target price on shares of Pinnacle West Capital from $101.00 to $99.00 and set a “hold” rating for the company in a research note on Monday, October 5th. HSBC began coverage on Pinnacle West Capital in a report on Thursday. They set a “buy” rating and a $119.50 price target on the stock. Scotiabank started coverage on Pinnacle West Capital in a research report on Tuesday, September 29th. They set a “sector outperform” rating and a $104.00 price target on the stock. Citigroup restated a “neutral” rating on shares of Pinnacle West Capital in a research report on Thursday, October 8th. Finally, Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd.

Insider Buying and Selling

In related news, CAO Elizabeth A. Blankenship sold 980 shares of the business’s 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 directly owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the transaction, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle West Capital

Institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC raised its holdings in shares of Pinnacle West Capital by 109.6% during the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 126 shares in the last quarter. Compass Financial Management LLC acquired a new stake in Pinnacle West Capital during the second quarter valued at $33,000. Bell Investment Advisors Inc grew its stake in Pinnacle West Capital by 144.9% in the second quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Pinnacle West Capital by 41,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 413 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Pinnacle West Capital by 56.9% in the second quarter. Parkside Financial Bank & Trust now owns 579 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $105.98 on Friday. The stock has a fifty day moving average price of $97.63 and a two-hundred day moving average price of $101.23. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. The firm has a market cap of $12.84 billion, a P/E ratio of 20.30, a PEG ratio of 3.79 and a beta of 0.43. Pinnacle West Capital has a 1 year low of $86.18 and a 1 year high of $111.16.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts forecast that Pinnacle West Capital will post 4.81 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be given a $0.9250 dividend. This represents a $3.70 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Monday, November 2nd. Pinnacle West Capital’s payout ratio is currently 70.88%.

About Pinnacle West Capital

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

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.