Pinnacle West Capital (NYSE:PNW) Price Target Raised to $91.00

Pinnacle West Capital (NYSE:PNW) had its target price hoisted by equities researchers at Morgan Stanley from $89.00 to $91.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 12.28% from the company’s previous close.

A number of other analysts also recently weighed in on PNW. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Citigroup reissued a “neutral” rating on shares of Pinnacle West Capital in a report on Thursday, October 8th. Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $129.00 to $109.00 and set a “buy” rating for the company in a research report on Monday, October 5th. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, BMO Capital Markets reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.15.

Pinnacle West Capital Trading Up 0.8%

NYSE PNW traded up $0.84 during mid-day trading on Wednesday, hitting $103.74. The company’s stock had a trading volume of 250,767 shares, compared to its average volume of 1,230,856. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The firm has a market capitalization of $12.57 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 3.63 and a beta of 0.43. The stock’s fifty day simple moving average is $97.35 and its two-hundred day simple moving average is $101.16. Pinnacle West Capital has a 52-week low of $86.18 and a 52-week high of $111.16.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $1.58 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect that Pinnacle West Capital will post 4.80 EPS for the current year.

Insider Buying and Selling

In related news, SVP Luis Esparza, Jr. sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total value of $183,618.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Elizabeth Blankenship sold 980 shares of the business’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 transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinnacle West Capital

A number of large investors have recently modified their holdings of the company. Banque Pictet & Cie SA acquired a new stake in shares of Pinnacle West Capital in the third quarter valued at approximately $1,635,000. V Square Quantitative Management LLC grew its holdings in Pinnacle West Capital by 23.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,986 shares of the utilities provider’s stock worth $371,000 after buying an additional 765 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Pinnacle West Capital by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,227 shares of the utilities provider’s stock valued at $21,531,000 after acquiring an additional 818 shares during the period. The Manufacturers Life Insurance Company increased its position in Pinnacle West Capital by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,651 shares of the utilities provider’s stock valued at $26,606,000 after acquiring an additional 5,199 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Pinnacle West Capital by 45.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,841 shares of the utilities provider’s stock valued at $1,588,000 after acquiring an additional 4,620 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 (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.