Pinnacle West Capital (NYSE:PNW) Price Target Raised to $108.00

Pinnacle West Capital (NYSE:PNW) had its target price increased by research analysts at Barclays from $102.00 to $108.00 in a research note issued on Wednesday, MarketBeat reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 0.93% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings raised Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. TD Cowen lifted their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a research report on Tuesday, April 21st. Argus increased their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $103.14.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $107.01 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital has a 1 year low of $85.32 and a 1 year high of $108.41. The business has a fifty day simple moving average of $102.10 and a 200 day simple moving average of $98.12. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 3.94 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business’s quarterly revenue was up 11.4% 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, sell-side analysts predict that Pinnacle West Capital will post 4.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. The trade was a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle West Capital

Several large investors have recently made changes to their positions in the business. Aristotle Capital Boston LLC acquired a new stake in shares of Pinnacle West Capital in the third quarter worth $1,007,000. Gotham Asset Management LLC boosted its holdings in Pinnacle West Capital by 37.4% in the 3rd quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after purchasing an additional 100,120 shares during the period. First Trust Advisors LP grew its position in Pinnacle West Capital by 6.3% in the 3rd quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock worth $117,223,000 after purchasing an additional 76,930 shares during the last quarter. DNB Asset Management AS grew its position in Pinnacle West Capital by 61.3% in the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock worth $3,978,000 after purchasing an additional 17,037 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Pinnacle West Capital by 8.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after purchasing an additional 568,581 shares during the period. Institutional investors and hedge funds 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.