KeyCorp Equities Analysts Boost Earnings Estimates for PNW

Pinnacle West Capital Co. (NYSE:PNW) – Research analysts at KeyCorp raised their FY2027 EPS estimates for Pinnacle West Capital in a note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $6.05 per share for the year, up from their prior forecast of $5.61. The consensus estimate for Pinnacle West Capital’s current full-year earnings is $4.77 per share. KeyCorp also issued estimates for Pinnacle West Capital’s FY2028 earnings at $6.05 EPS.

Several other brokerages have also recently issued reports on PNW. Barclays reduced their price objective on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company upped their target price on Pinnacle West Capital from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on Pinnacle West Capital in a research report on Thursday, September 19th. They issued a “buy” rating and a $104.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.79.

Pinnacle West Capital Stock Up 1.4 %

NYSE:PNW opened at $89.31 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. Pinnacle West Capital has a one year low of $65.20 and a one year high of $91.57. The stock has a 50-day simple moving average of $88.12 and a 200 day simple moving average of $81.52.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.45. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. Pinnacle West Capital’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS.

Institutional Trading of Pinnacle West Capital

A number of hedge funds and other institutional investors have recently modified their holdings of PNW. Intech Investment Management LLC acquired a new position in Pinnacle West Capital during the first quarter worth about $898,000. Quantbot Technologies LP bought a new stake in shares of Pinnacle West Capital in the 1st quarter worth approximately $1,102,000. Natixis acquired a new stake in Pinnacle West Capital during the first quarter valued at approximately $4,064,000. Allspring Global Investments Holdings LLC boosted its holdings in Pinnacle West Capital by 148.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,944 shares of the utilities provider’s stock worth $1,341,000 after buying an additional 10,732 shares in the last quarter. Finally, Sei Investments Co. grew its position in Pinnacle West Capital by 15.6% in the first quarter. Sei Investments Co. now owns 228,555 shares of the utilities provider’s stock worth $17,080,000 after buying an additional 30,924 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Robert Edgar Smith sold 4,950 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the sale, the executive vice president now directly owns 6,397 shares in the company, valued at $548,862.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.88. Pinnacle West Capital’s payout ratio is 76.69%.

About Pinnacle West Capital

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.