DUK vs PNW: Which Is the Better Dividend Stock?
As of September 2026, DUK and PNW are closely matched. PNW offers the higher yield at 3.86%, DUK has the higher dividend-safety score, and PNW trades at the larger discount to fair value (+36%).
| Metric | DUK | PNW |
|---|---|---|
| Forward yield | 3.69% | 3.86% |
| Annual dividend | $4.34 | $3.64 |
| Payout ratio | 64% | 70% |
| Years of growth | 21 yr | 14 yr |
| 5-yr dividend growth | 2.0% | 2.5% |
| 5-yr total return | 15% | 46% |
| Dividend safety score | 92 (A) | 88 (A) |
| Fair value estimate | $128.37 | $127.90 |
| Upside to fair value | +9% | +36% |
| Frequency | quarterly | quarterly |
| Market cap | $91.6B | $11.4B |
| P/E ratio | 17.7 | 18.1 |
Higher yield
PNW
3.86%
Safer dividend
DUK
Grade A
Faster growth
PNW
2.5%
Better value
PNW
+36% upside
DUK vs PNW — FAQ
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