Pinnacle West Capital (NYSE:PNW) Price Target Raised to $109.00

Pinnacle West Capital (NYSE:PNW) had its price target lifted by Citigroup from $100.00 to $109.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $103.00 price target on shares of Pinnacle West Capital in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. Wells Fargo & Company lifted their target price on Pinnacle West Capital from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets upped their price target on Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Zacks Research raised Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $100.08.

Pinnacle West Capital Price Performance

NYSE PNW opened at $100.26 on Thursday. The stock has a 50-day simple moving average of $93.19 and a 200 day simple moving average of $90.71. Pinnacle West Capital has a twelve month low of $85.32 and a twelve month high of $101.13. The stock has a market capitalization of $12.12 billion, a PE ratio of 19.81, a P/E/G ratio of 6.03 and a beta of 0.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.49 and a current ratio of 0.67.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. Pinnacle West Capital had a return on equity of 8.86% and a net margin of 11.55%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts anticipate that Pinnacle West Capital will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. Pinnacle West Capital’s payout ratio is presently 71.94%.

Hedge Funds Weigh In On Pinnacle West Capital

Several large investors have recently bought and sold shares of PNW. Capital Research Global Investors raised its position in shares of Pinnacle West Capital by 5.0% in the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after acquiring an additional 758,190 shares during the period. Vanguard Group Inc. increased its position in shares of Pinnacle West Capital by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock worth $1,322,482,000 after purchasing an additional 316,629 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Pinnacle West Capital by 8.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after acquiring an additional 568,581 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. lifted its stake in Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock valued at $395,712,000 after purchasing an additional 1,369,350 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after buying an additional 74,023 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.