Pinnacle West Capital (NYSE:PNW) Research Coverage Started at HSBC

HSBC started coverage on shares of Pinnacle West Capital (NYSE:PNW) in a report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $119.50 price target on the utilities provider’s stock.

PNW has been the subject of several other research reports. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. BMO Capital Markets cut their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Citigroup reiterated a “neutral” rating on shares of Pinnacle West Capital in a report on Thursday, October 8th. Finally, 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 price target on the stock. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $103.39.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $105.98 on Thursday. The firm has a market capitalization of $12.84 billion, a P/E ratio of 20.30, a PEG ratio of 3.79 and a beta of 0.43. The stock has a 50-day simple moving average of $97.63 and a two-hundred day simple moving average 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. Pinnacle West Capital has a fifty-two week low of $86.18 and a fifty-two week high of $111.16.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion for 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 business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts forecast that Pinnacle West Capital will post 4.81 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.9250 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.91. The ex-dividend date is Monday, November 2nd. This represents a $3.70 dividend on an annualized basis and a yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 70.88%.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth Blankenship sold 980 shares of the firm’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 value of $97,186.60. Following the completion of the transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

Several large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in shares of Pinnacle West Capital by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after buying an additional 100 shares in the last quarter. Excelsior Advisor Network LLC increased its position in shares of Pinnacle West Capital by 4.3% in the 1st quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 108 shares during the last quarter. Probity Advisors Inc. raised its holdings in shares of Pinnacle West Capital by 1.5% in the 3rd quarter. Probity Advisors Inc. now owns 8,037 shares of the utilities provider’s stock valued at $748,000 after purchasing an additional 118 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of Pinnacle West Capital by 5.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 120 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other 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 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.