Pinnacle West Capital Corporation $PNW Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Pinnacle West Capital Corporation (NYSE:PNW) by 15.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,075,941 shares of the utilities provider’s stock after acquiring an additional 144,194 shares during the period. Franklin Resources Inc.’s holdings in Pinnacle West Capital were worth $95,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PNW. Capital Research Global Investors grew its position in Pinnacle West Capital by 5.0% during the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock worth $1,421,407,000 after purchasing an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Pinnacle West Capital by 8.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after purchasing an additional 568,581 shares during the period. Geode Capital Management LLC grew its position in Pinnacle West Capital by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock worth $274,117,000 after purchasing an additional 27,861 shares during the period. Norges Bank acquired a new stake in Pinnacle West Capital during the 4th quarter worth about $140,468,000. Finally, First Trust Advisors LP grew its position in Pinnacle West Capital by 6.3% during the 3rd quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock worth $117,223,000 after purchasing an additional 76,930 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research report on Tuesday, April 21st. Citigroup increased their price target on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial cut their price target on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Finally, Morgan Stanley set a $92.00 price target on Pinnacle West Capital in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $102.50.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Pinnacle West Capital Trading Up 0.5%

PNW stock opened at $103.19 on Thursday. The company’s 50-day simple moving average is $101.66 and its 200-day simple moving average is $96.58. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The firm has a market cap of $12.51 billion, a P/E ratio of 19.22, a PEG ratio of 3.76 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts forecast that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.