Pinnacle West Capital Q3 Earnings Forecast Raised by KeyCorp

Pinnacle West Capital Corporation (NYSE:PNW) – Investment analysts at KeyCorp increased their Q3 2026 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 per share of $3.70 for the quarter, up from their prior estimate of $3.12. 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 Q4 2026 earnings at ($0.10) EPS and FY2026 earnings at $5.30 EPS.

Several other equities research analysts also recently commented on the stock. Scotiabank began coverage on shares of Pinnacle West Capital in a research report on Tuesday, September 29th. They set a “sector outperform” rating and a $104.00 target price on the stock. BMO Capital Markets decreased their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Barclays dropped their price target on shares of Pinnacle West Capital from $108.00 to $94.00 and set an “equal weight” rating for the company in a research note on Thursday, October 1st. TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Citigroup reiterated a “neutral” rating on shares of Pinnacle West Capital in a report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.00.

Pinnacle West Capital Stock Up 0.4%

Shares of NYSE PNW opened at $102.03 on Thursday. The company has a 50 day simple moving average of $97.19 and a 200 day simple moving average of $101.12. The firm has a market cap of $12.37 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.70 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. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41.

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

Insider Activity

In related news, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its stake in shares of Pinnacle West Capital by 109.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 126 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of Pinnacle West Capital during the second quarter worth $33,000. Bell Investment Advisors Inc increased its position in shares of Pinnacle West Capital by 144.9% during the second quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock worth $36,000 after buying an additional 200 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Pinnacle West Capital by 41,300.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the utilities provider’s stock worth $44,000 after buying an additional 413 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Pinnacle West Capital by 56.9% during the second quarter. Parkside Financial Bank & Trust now owns 579 shares of the utilities provider’s stock worth $62,000 after buying an additional 210 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

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.