KeyCorp Research Analysts Lift Earnings Estimates for PNW

Pinnacle West Capital Co. (NYSE:PNW - Free Report) - KeyCorp upped their FY2027 earnings estimates for Pinnacle West Capital in a research note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $6.05 per share for the year, up from their previous 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 analysts also recently commented on PNW. Wells Fargo & Company raised their price objective on Pinnacle West Capital from $87.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on Pinnacle West Capital in a report on Thursday, September 19th. They set a "buy" rating and a $104.00 price objective on the stock. StockNews.com raised Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. Morgan Stanley lifted their price target on shares of Pinnacle West Capital from $78.00 to $83.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Barclays lowered their price objective on shares of Pinnacle West Capital from $81.00 to $78.00 and set an "overweight" rating for the company in a research report on Tuesday, July 2nd. Seven equities 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, Pinnacle West Capital has an average rating of "Hold" and an average target price of $80.79.

Pinnacle West Capital Trading Up 0.3 %

PNW traded up $0.30 during mid-day trading on Thursday, hitting $89.61. The stock had a trading volume of 1,259,862 shares, compared to its average volume of 1,129,314. Pinnacle West Capital has a 1-year low of $65.20 and a 1-year high of $91.57. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.48. The stock's fifty day simple moving average is $88.19 and its 200-day simple moving average is $81.58.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.45. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.21 billion. Pinnacle West Capital had a return on equity of 9.75% and a net margin of 12.65%. The company's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.895 dividend. This is a boost from Pinnacle West Capital's previous quarterly dividend of $0.88. The ex-dividend date is Monday, November 4th. This represents a $3.58 annualized dividend and a dividend yield of 4.00%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 76.69%.

Insider Activity at Pinnacle West Capital

In related news, Director Susan T. Flanagan purchased 500 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $86.54 per share, with a total value of $43,270.00. Following the completion of the transaction, the director now owns 750 shares of the company's stock, valued at approximately $64,905. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Susan T. Flanagan purchased 500 shares of the business's stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $86.54 per share, for a total transaction of $43,270.00. Following the completion of the purchase, the director now directly owns 750 shares in the company, valued at $64,905. The trade was a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Edgar Smith sold 4,950 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $85.80, for a total transaction of $424,710.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PNW. Blue Trust Inc. lifted its position in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider's stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Cape Investment Advisory Inc. bought a new stake in Pinnacle West Capital in the 1st quarter valued at about $30,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $52,000. First Horizon Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 20.9% during the second quarter. First Horizon Advisors Inc. now owns 794 shares of the utilities provider's stock worth $61,000 after purchasing an additional 137 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Pinnacle West Capital in the second quarter valued at approximately $82,000. 91.51% of the stock is owned by institutional investors and hedge funds.

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.