Pinnacle West Capital (NYSE:PNW) Upgraded at Zacks Research

Zacks Research upgraded shares of Pinnacle West Capital (NYSE:PNW) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on PNW. Barclays upped their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $99.00 price target on shares of Pinnacle West Capital in a research report on Monday, October 20th. KeyCorp decreased their price objective on Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 target price on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $97.54.

Pinnacle West Capital Trading Up 0.2%

NYSE:PNW opened at $88.97 on Monday. The company has a market capitalization of $10.65 billion, a PE ratio of 18.34, a P/E/G ratio of 9.23 and a beta of 0.50. Pinnacle West Capital has a 52-week low of $81.47 and a 52-week high of $96.50. The stock’s 50 day moving average price is $89.40 and its 200 day moving average price is $90.40. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.35. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. On average, research analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 4.1%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s dividend payout ratio (DPR) is 74.74%.

Institutional Trading of Pinnacle West Capital

Several hedge funds and other institutional investors have recently bought and sold shares of PNW. Clearstead Trust LLC purchased a new position in shares of Pinnacle West Capital during the 1st quarter worth about $25,000. Costello Asset Management INC purchased a new stake in Pinnacle West Capital in the first quarter valued at approximately $26,000. Caldwell Trust Co acquired a new position in Pinnacle West Capital during the second quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in Pinnacle West Capital during the second quarter worth approximately $27,000. Finally, Bayforest Capital Ltd purchased a new position in Pinnacle West Capital during the third quarter worth approximately $29,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.