Pinnacle West Capital Corporation $PNW Stake Lessened by Magellan Asset Management Ltd

Magellan Asset Management Ltd lessened its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,875 shares of the utilities provider’s stock after selling 1,379 shares during the period. Magellan Asset Management Ltd owned 0.07% of Pinnacle West Capital worth $7,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Pinnacle West Capital by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider’s stock worth $1,377,759,000 after purchasing an additional 283,752 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Pinnacle West Capital by 230.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider’s stock valued at $266,085,000 after buying an additional 1,948,416 shares in the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Pinnacle West Capital by 8.5% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,509,511 shares of the utilities provider’s stock worth $143,781,000 after purchasing an additional 118,796 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Pinnacle West Capital by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,560 shares of the utilities provider’s stock valued at $105,203,000 after purchasing an additional 110,674 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pinnacle West Capital by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,044,047 shares of the utilities provider’s stock worth $99,445,000 after buying an additional 12,857 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the transaction, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. This trade represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $87.88 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. The company has a market capitalization of $10.52 billion, a P/E ratio of 18.12, a P/E/G ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a 1 year low of $81.47 and a 1 year high of $96.50. The business has a fifty day simple moving average of $89.43 and a two-hundred day simple moving average of $90.55.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $3.37 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. On average, analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.1%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date is Monday, November 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 74.74%.

Analyst Ratings Changes

PNW has been the subject of several recent analyst reports. KeyCorp lowered their target price on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a research note on Wednesday, October 15th. UBS Group lifted their target price on Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wells Fargo & Company raised Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. BMO Capital Markets reissued a “market perform” rating and issued a $99.00 price objective on shares of Pinnacle West Capital in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $97.54.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.