Pinnacle West Capital (NYSE:PNW) Hits New 12-Month High – Here’s What Happened

Pinnacle West Capital Corporation (NYSE:PNW)’s stock price reached a new 52-week high on Friday . The stock traded as high as $111.16 and last traded at $110.4250, with a volume of 64336 shares changing hands. The stock had previously closed at $109.29.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. Jefferies Financial Group restated a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. TD Cowen boosted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Barclays lifted their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.14.

Pinnacle West Capital Stock Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The stock has a market capitalization of $13.06 billion, a PE ratio of 20.06, a P/E/G ratio of 3.92 and a beta of 0.43. The firm has a fifty day moving average price of $103.76 and a two-hundred day moving average price of $99.87.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.Pinnacle West Capital’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect that Pinnacle West Capital Corporation will post 4.73 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 67.78%.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Pinnacle West Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNW. JFS Wealth Advisors LLC boosted its position in 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 buying an additional 126 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Pinnacle West Capital by 6.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 18,681 shares of the utilities provider’s stock worth $1,999,000 after acquiring an additional 1,057 shares during the period. Everhart Financial Group Inc. increased its position in shares of Pinnacle West Capital by 5.1% during the second quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 120 shares during the period. Everpar Advisors LLC bought a new stake in shares of Pinnacle West Capital during the second quarter valued at approximately $276,000. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Pinnacle West Capital by 0.4% during the second quarter. Beacon Investment Advisory Services Inc. now owns 65,932 shares of the utilities provider’s stock valued at $7,055,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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.