Pinnacle West Capital Corporation $PNW Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,094 shares of the utilities provider’s stock after purchasing an additional 5,237 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pinnacle West Capital were worth $7,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNW. Oregon Public Employees Retirement Fund boosted its stake in Pinnacle West Capital by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after purchasing an additional 100 shares during the period. Empowered Funds LLC increased its stake in Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 116 shares during the period. Stratos Wealth Partners LTD. increased its stake in Pinnacle West Capital by 2.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 131 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Pinnacle West Capital by 11.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock valued at $119,000 after buying an additional 140 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Pinnacle West Capital by 4.7% in the fourth quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider’s stock valued at $331,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.2%

Shares of Pinnacle West Capital stock opened at $106.22 on Monday. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The company has a market cap of $12.87 billion, a P/E ratio of 19.78, a PEG ratio of 3.86 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. The firm has a fifty day moving average of $104.42 and a two-hundred day moving average of $100.56.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating 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 the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts forecast that Pinnacle West Capital Corporation will post 4.74 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 67.78%.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Argus upped their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. BMO Capital Markets decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.07.

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.