Kentucky Retirement Systems Makes New Investment in Pinnacle West Capital Corporation $PNW

Kentucky Retirement Systems acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW) during the first quarter, Holdings Channel.com reports. The fund acquired 9,085 shares of the utilities provider’s stock, valued at approximately $915,000.

A number of other hedge funds have also recently made changes to their positions in PNW. Brighton Jones LLC acquired a new stake in shares of Pinnacle West Capital in the 4th quarter worth about $417,000. NewEdge Advisors LLC boosted its stake in Pinnacle West Capital by 999.1% during the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock valued at $782,000 after purchasing an additional 7,463 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Pinnacle West Capital by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after purchasing an additional 41,173 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Pinnacle West Capital by 12.8% in the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 523 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction 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 sale, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PNW shares. Barclays raised their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Argus upped their price target on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Truist Financial lowered their price target on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, BMO Capital Markets dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.07.

Pinnacle West Capital Trading Down 0.4%

Shares of PNW stock opened at $100.95 on Friday. 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 company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.68 and a beta of 0.43. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $111.16. The company has a 50-day simple moving average of $104.57 and a two-hundred day simple moving average of $100.98.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Monday, May 4th. The utilities provider reported $0.27 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 firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned ($0.04) EPS. The company’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. Research analysts anticipate that Pinnacle West Capital Corporation will post 4.74 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

Pinnacle West Capital Company 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.