Pinnacle West Capital (NYSE:PNW) Updates FY 2026 Earnings Guidance

Pinnacle West Capital (NYSE:PNW) issued an update on its FY 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.550-4.750 for the period, compared to the consensus estimate of 4.700. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNW shares. Barclays raised their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. TD Cowen increased their price objective on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research report on Wednesday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $104.07.

Pinnacle West Capital Price Performance

Shares of NYSE PNW traded down $0.10 during midday trading on Wednesday, hitting $101.35. 109,779 shares of the company’s stock were exchanged, compared to its average volume of 1,255,716. 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 business’s fifty day moving average price is $104.50 and its two-hundred day moving average price is $101.20. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 3.66 and a beta of 0.44. Pinnacle West Capital has a 12-month low of $85.32 and a 12-month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts forecast that Pinnacle West Capital will post 4.74 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

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 3.6%. 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.

Trending Headlines about Pinnacle West Capital

Here are the key news stories impacting Pinnacle West Capital this week:

• Positive Sentiment: Management expects 2026 earnings per share to land at the top end of its previously stated $4.55–$4.75 range, signaling confidence in its outlook despite second-quarter pressure. Pinnacle West targets 380 MW Cholla gas conversion and expects 2026 EPS at top end
• Positive Sentiment: Pinnacle West plans to convert 380 megawatts of the Cholla plant to natural gas by 2029. The project could improve generation reliability and support long-term capacity needs while reducing reliance on coal.
• Positive Sentiment: Second-quarter revenue increased 7.1% year over year to $1.46 billion, exceeding analysts’ $1.40 billion estimate, reflecting stronger sales despite higher operating costs. Pinnacle West Q2 earnings miss estimates while revenue increases
• Neutral Sentiment: Management maintained full-year 2026 EPS guidance of $4.55–$4.75, compared with a consensus estimate near $4.70, leaving the outlook intact but providing limited upside to expectations.
• Negative Sentiment: Second-quarter EPS fell to $1.43 from $1.58 a year earlier and missed consensus estimates of approximately $1.46–$1.49. Higher fuel, purchased-power and interest expenses offset the revenue growth. Pinnacle West Q2 earnings lag estimates
• Negative Sentiment: Pinnacle West entered into an agreement allowing it to issue up to $500 million of common stock. While the proceeds may support capital investment, the potential share dilution could weigh on existing shareholders. Pinnacle West announces $500 million equity program

Hedge Funds Weigh In On Pinnacle West Capital

A number of hedge funds and other institutional investors have recently modified their holdings of PNW. Empowered Funds LLC raised its holdings in shares of Pinnacle West Capital by 3.8% during the 4th quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock valued at $281,000 after buying an additional 116 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 140 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in Pinnacle West Capital by 5.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 4,299 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 223 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Pinnacle West Capital by 5.8% during the third quarter. Advisory Services Network LLC now owns 4,174 shares of the utilities provider’s stock worth $374,000 after acquiring an additional 228 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Pinnacle West Capital by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 39,979 shares of the utilities provider’s stock worth $3,585,000 after acquiring an additional 234 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.