Commerce Bank Buys Shares of 11,783 Pinnacle West Capital Corporation $PNW

Commerce Bank bought a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,783 shares of the utilities provider’s stock, valued at approximately $1,261,000.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC grew its position in Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 126 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Pinnacle West Capital in the 2nd quarter worth about $27,000. Bell Investment Advisors Inc raised its position in Pinnacle West Capital by 144.9% in the second quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Pinnacle West Capital in the second quarter valued at about $32,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Pinnacle West Capital by 88.5% during the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 185 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNW. Truist Financial reduced their price target on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Barclays raised their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Morgan Stanley cut their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $103.57.

Pinnacle West Capital Trading Down 0.0%

NYSE PNW opened at $97.69 on Wednesday. The business’s 50-day moving average price is $103.98 and its two-hundred day moving average price is $101.89. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The firm has a market capitalization of $11.84 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.Pinnacle West Capital’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts expect that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 yield of 3.7%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is currently 69.73%.

Insider Activity at Pinnacle West Capital

In related news, CAO Elizabeth A. Blankenship sold 980 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer owned 10,886 shares in the company, valued at $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total value of $183,618.00. Following the completion of the transaction, the senior vice president directly owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by company insiders.

About Pinnacle West Capital

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.