CEG vs PNW: Which Is the Better Dividend Stock?
As of September 2026, PNW (Pinnacle West Capital Corporation) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. PNW offers the higher yield at 3.86%, PNW has the higher dividend-safety score, and CEG trades at the larger discount to fair value (+42%).
| Metric | CEG | PNW |
|---|---|---|
| Forward yield | 0.67% | 3.86% |
| Annual dividend | $1.71 | $3.64 |
| Payout ratio | 16% | 70% |
| Years of growth | 3 yr | 14 yr |
| 5-yr dividend growth | — | 2.5% |
| 5-yr total return | 431% | 46% |
| Dividend safety score | 77 (B) | 88 (A) |
| Fair value estimate | $361.39 | $127.90 |
| Upside to fair value | +42% | +36% |
| Frequency | quarterly | quarterly |
| Market cap | $90.2B | $11.4B |
| P/E ratio | 24.9 | 18.1 |
Higher yield
PNW
3.86%
Safer dividend
PNW
Grade A
Faster growth
PNW
2.5%
Better value
CEG
+42% upside
CEG vs PNW — FAQ
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