Greenland Capital Management LP Has $2.34 Million Holdings in Pinnacle West Capital Corporation $PNW

Greenland Capital Management LP trimmed its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 42.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,114 shares of the utilities provider’s stock after selling 19,336 shares during the period. Greenland Capital Management LP’s holdings in Pinnacle West Capital were worth $2,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Clearstead Trust LLC acquired a new position in Pinnacle West Capital during the 1st quarter worth $25,000. Costello Asset Management INC acquired a new position in Pinnacle West Capital during the first quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new stake in Pinnacle West Capital in the second quarter valued at approximately $31,000. Brooklyn Investment Group raised its holdings in Pinnacle West Capital by 440.0% in the first quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 396 shares during the period. Finally, CNB Bank bought a new position in shares of Pinnacle West Capital during the second quarter worth $64,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the topic of several research analyst reports. Barclays raised 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. Wells Fargo & Company raised Pinnacle West Capital to a “hold” rating in a research report on Tuesday, October 28th. KeyCorp decreased their price objective on Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Morgan Stanley set a $93.00 target price on shares of Pinnacle West Capital and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $97.54.

Pinnacle West Capital Trading Up 0.2%

Pinnacle West Capital stock opened at $89.35 on Wednesday. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 9.23 and a beta of 0.50. The firm has a 50-day moving average of $89.44 and a 200-day moving average of $90.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.52 and a quick ratio of 0.37. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50.

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

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 4.1%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. Pinnacle West Capital’s payout ratio is currently 74.74%.

Pinnacle West Capital Profile

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.