Pinnacle West Capital (NYSE:PNW) Upgraded by Zacks Research to Hold Rating

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

Other equities analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, November 4th. UBS Group boosted their price target on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Barclays increased their price objective on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Wells Fargo & Company upgraded shares of Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Finally, TD Cowen started coverage on Pinnacle West Capital in a report on Thursday, October 16th. They set a “hold” rating and a $97.00 price target for the company. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.54.

Pinnacle West Capital Stock Performance

PNW stock traded down $0.12 during trading hours on Monday, reaching $88.65. The stock had a trading volume of 185,774 shares, compared to its average volume of 1,156,873. The stock has a market capitalization of $10.61 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. The stock has a 50-day simple moving average of $89.40 and a 200 day simple moving average of $90.41. Pinnacle West Capital has a fifty-two week low of $81.47 and a fifty-two week high of $96.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37.

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

Pinnacle West Capital Increases Dividend

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

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently modified their holdings of PNW. AE Wealth Management LLC increased its holdings in shares of Pinnacle West Capital by 4,666.1% in the 2nd quarter. AE Wealth Management LLC now owns 139,599 shares of the utilities provider’s stock worth $12,490,000 after purchasing an additional 136,670 shares in the last quarter. Holland Advisory Services Inc. purchased a new position in shares of Pinnacle West Capital in the second quarter worth approximately $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Pinnacle West Capital by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,764 shares of the utilities provider’s stock valued at $30,934,000 after buying an additional 11,356 shares during the period. Allworth Financial LP raised its position in Pinnacle West Capital by 19.1% in the first quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 125 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pinnacle West Capital by 22.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,768 shares of the utilities provider’s stock valued at $3,587,000 after acquiring an additional 6,806 shares during the period. 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.