Pinnacle West Q2 profit misses estimates on higher costs

The current average analyst rating on the shares is hold, with 4 strong buy or buy, 14 hold, and no sell or strong sell ratings.

The average consensus recommendation for the electric utilities peer group is buy. Wall Street's median 12-month price target for Pinnacle West Capital Corp. is $106.00, about 5.1% above its August 3 closing price of $100.81.

The stock recently traded at 19 times the next 12-month earnings versus a P/E of 21 three months ago.

Pinnacle West continues to estimate 2026 EPS between $4.55 and $4.75 on a weather-normalized basis.

The company expects robust customer growth and increased energy demand to continue through the peak summer season, and said it plans infrastructure investments to strengthen reliability and meet Arizona's growing energy demand.

Pinnacle West said second-quarter operating revenue rose year over year, but net income and EPS declined.