Bank of Montreal Can Lowers Stock Holdings in Pinnacle West Capital Corporation $PNW

Bank of Montreal Can lessened its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 222,868 shares of the utilities provider’s stock after selling 37,801 shares during the period. Bank of Montreal Can owned 0.19% of Pinnacle West Capital worth $19,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNW. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pinnacle West Capital by 230.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider’s stock valued at $266,085,000 after purchasing an additional 1,948,416 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Pinnacle West Capital during the first quarter worth $99,364,000. Vanguard Group Inc. grew its position in Pinnacle West Capital by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider’s stock valued at $1,377,759,000 after buying an additional 283,752 shares during the last quarter. AQR Capital Management LLC grew its position in Pinnacle West Capital by 56.4% in the 1st quarter. AQR Capital Management LLC now owns 414,529 shares of the utilities provider’s stock valued at $39,484,000 after buying an additional 149,488 shares during the last quarter. Finally, Reaves W H & Co. Inc. increased its stake in Pinnacle West Capital by 8.5% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,509,511 shares of the utilities provider’s stock valued at $143,781,000 after buying an additional 118,796 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Up 0.3%

Shares of PNW opened at $87.88 on Friday. Pinnacle West Capital Corporation has a twelve month low of $81.47 and a twelve month high of $96.50. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $10.52 billion, a P/E ratio of 18.12, a PEG ratio of 9.23 and a beta of 0.50. The firm’s 50-day moving average is $89.43 and its two-hundred day moving average is $90.55.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company earned $3.37 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. 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, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.1%. This is a positive change 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 dividend payout ratio is currently 74.74%.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,496 shares of Pinnacle West Capital stock in a transaction on Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the transaction, the executive vice president owned 56 shares of the company’s stock, valued at $5,172.72. The trade was a 99.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. KeyCorp reduced their price objective on shares of 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. TD Cowen began coverage on Pinnacle West Capital in a report on Thursday, October 16th. They issued a “hold” rating and a $97.00 price objective on the stock. Zacks Research downgraded Pinnacle West Capital from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.54.

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.