DUK vs PNW: Which Is the Better Dividend Stock?
As of Nov 5, 2026, DUK and PNW are closely matched. PNW offers the higher yield at 3.50%, DUK has the higher dividend-safety score, and PNW looks like the better value (its fair-value estimate is 15% above its share price).
Key facts: DUK vs PNW
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Pinnacle West Capital Corporation (PNW) has the higher forward dividend yield at 3.50%, versus 3.35% for Duke Energy Corporation (DUK).
- As of Nov 5, 2026, SmarterDividends grades DUK's dividend safety A (92/100) and PNW's A (88/100).
- By SmarterDividends' count as of Nov 5, 2026, DUK has raised its dividend for 21 consecutive years and PNW for 14.
- As of Nov 5, 2026, DUK pays out 64% of its earnings as dividends and PNW pays out 68%.
- As of Nov 5, 2026, DUK's fair-value estimate is 9% below its share price and PNW's fair-value estimate is 15% above its share price, so PNW looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "DUK vs PNW: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/duk-vs-pnw
| Metric | DUK | PNW |
|---|---|---|
| Forward yield | 3.35% | 3.50% |
| Annual dividend | $4.34 | $3.70 |
| Payout ratio | 64% | 68% |
| Years of growth | 21 yr | 14 yr |
| 5-yr dividend growth | 2.0% | 2.5% |
| 5-yr total return | 31% | 63% |
| Dividend safety score | 92 (A) | 88 (A) |
| Fair value estimate | $119.07 | $119.78 |
| Upside to fair value | -9% | +15% |
| Frequency | quarterly | quarterly |
| Market cap | $102.2B | $12.6B |
| P/E ratio | 19.7 | 19.6 |
Higher yield
PNW
3.50%
Safer dividend
DUK
Grade A
Faster growth
PNW
2.5%
Better value
PNW
+15% upside
DUK vs PNW — FAQ
Is DUK or PNW a better dividend stock?
DUK and PNW are closely matched. PNW has the higher yield; DUK scores better on safety.
Which has a higher dividend yield, DUK or PNW?
PNW has the higher forward dividend yield at 3.50%, versus 3.35% for DUK.
Is DUK or PNW safer?
DUK has the higher dividend-safety score (92/100 vs 88/100), reflecting stronger payout coverage and dividend-growth history.
Is DUK or PNW better value right now?
As of Nov 5, 2026, PNW looks like the better value: its fair-value estimate is 15% above its share price (undervalued). For DUK, its fair-value estimate is 9% below its share price.
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