Equities Analysts Offer Predictions for PNW Q4 Earnings

Pinnacle West Capital Co. (NYSE:PNW - Free Report) - Equities research analysts at KeyCorp dropped their Q4 2024 earnings per share estimates for Pinnacle West Capital in a research note issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.10). KeyCorp currently has a "Overweight" rating and a $101.00 target price on the stock. The consensus estimate for Pinnacle West Capital's current full-year earnings is $5.14 per share. KeyCorp also issued estimates for Pinnacle West Capital's FY2027 earnings at $5.71 EPS.

A number of other equities analysts also recently commented on the company. Morgan Stanley reduced their price objective on Pinnacle West Capital from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Barclays cut shares of Pinnacle West Capital from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $93.00 to $91.00 in a research report on Monday, November 18th. Jefferies Financial Group started coverage on shares of Pinnacle West Capital in a research report on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Pinnacle West Capital from $90.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Finally, Citigroup raised their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $84.65.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock traded down $0.86 on Friday, hitting $91.59. 746,651 shares of the company were exchanged, compared to its average volume of 1,368,260. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $89.68 and a 200 day moving average price of $84.99. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.18 and a beta of 0.54. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $95.42.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Pinnacle West Capital by 24.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,985,619 shares of the utilities provider's stock worth $533,562,000 after acquiring an additional 1,379,368 shares in the last quarter. State Street Corp boosted its holdings in Pinnacle West Capital by 0.9% in the third quarter. State Street Corp now owns 6,404,718 shares of the utilities provider's stock valued at $567,394,000 after purchasing an additional 56,644 shares in the last quarter. Zimmer Partners LP increased its stake in Pinnacle West Capital by 5.7% in the third quarter. Zimmer Partners LP now owns 2,899,676 shares of the utilities provider's stock valued at $256,882,000 after purchasing an additional 155,466 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Pinnacle West Capital by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 1,159,942 shares of the utilities provider's stock worth $88,596,000 after purchasing an additional 44,029 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pinnacle West Capital by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider's stock worth $91,078,000 after buying an additional 5,066 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were given a $0.895 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.58 dividend on an annualized basis and a yield of 3.91%. This is a positive change from Pinnacle West Capital's previous quarterly dividend of $0.88. Pinnacle West Capital's dividend payout ratio (DPR) is currently 67.80%.

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.