Geode Capital Management LLC Purchases 33,216 Shares of Pinnacle West Capital Corporation $PNW

Geode Capital Management LLC increased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,026,662 shares of the utilities provider’s stock after buying an additional 33,216 shares during the quarter. Geode Capital Management LLC’s holdings in Pinnacle West Capital were worth $270,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PNW. Brighton Jones LLC bought a new stake in Pinnacle West Capital in the 4th quarter valued at $417,000. Victory Capital Management Inc. grew its position in shares of Pinnacle West Capital by 14.4% during the first quarter. Victory Capital Management Inc. now owns 446,170 shares of the utilities provider’s stock valued at $42,498,000 after purchasing an additional 56,270 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Pinnacle West Capital by 3,500.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 612 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 595 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Pinnacle West Capital by 4.0% in the first quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider’s stock worth $387,000 after buying an additional 156 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Pinnacle West Capital by 2.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 8,710 shares of the utilities provider’s stock valued at $830,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $88.30 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 9.23 and a beta of 0.50. The firm’s 50-day moving average is $89.38 and its 200 day moving average is $90.27.

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

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 4.1%. This is a positive change 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 is 74.74%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PNW shares. Barclays lifted their price objective on Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Morgan Stanley set a $93.00 price target on shares of Pinnacle West Capital and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada raised shares of Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. Finally, Argus decreased their target price on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.