With a market cap of $11 billion, Pinnacle West Capital Corporation (PNW) provides retail and wholesale electric services primarily in the state of Arizona. Headquartered in Phoenix, Arizona, the company engages in the generation, transmission, and distribution of electricity using nuclear, gas, oil, coal, and solar generating facilities.

Shares of PNW have outperformed the broader market over the past 52 weeks. PNW stock has increased 18.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 11.9%. Moreover, shares of PNW are up 9.2% on a YTD basis, outpacing $SPX's 1% gain.

In addition, Pinnacle West has also outpaced the Utilities Select Sector SPDR Fund’s (XLU) 14.6% return over the past 52 weeks but has slightly lagged behind its 9.4% rise in 2025.

On May 1, PNW posted its first-quarter earnings, and its shares fell 1.9% following the results release and surged marginally in the next trading session. The company reported an 8.5% year-over-year rise in its operating revenues, which came in at approximately $1 billion. Moreover, the company reported a $0.04 net loss per share for the quarter, which fell short of the Street’s expectations by 180%.

For the fiscal year ending in December 2025, analysts expect PNW's EPS to decline 13.9% year-over-year to $4.51. The company's earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters, while missing on one occasion.

Among the 15 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on six “Strong Buy” ratings and nine “Holds.”

The current consensus is less bullish than two months ago, when it had seven “Strong Buy” suggestions.

On May 13, BMO Capital analyst Edward DeArias assigned a "Market Perform" rating to Pinnacle West Capital and announced a price target of $95.

PNW’s mean price target of $97.93 indicates a premium of 5.8% from the current market prices. While the Street-high target of $109 suggests a robust 17.8% upside potential.