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

Greenland Capital Management LP lessened its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 42.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 26,114 shares of the utilities provider’s stock after selling 19,336 shares during the quarter. Greenland Capital Management LP’s holdings in Pinnacle West Capital were worth $2,336,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wealthspire Advisors LLC increased its stake in shares of Pinnacle West Capital by 20.0% during the second quarter. Wealthspire Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 479 shares during the period. Vanguard Group Inc. boosted its holdings in Pinnacle West Capital by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock valued at $1,322,482,000 after purchasing an additional 316,629 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Pinnacle West Capital by 9.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 3,427 shares of the utilities provider’s stock valued at $307,000 after buying an additional 309 shares during the period. Y.D. More Investments Ltd grew its position in Pinnacle West Capital by 25.2% during the second quarter. Y.D. More Investments Ltd now owns 1,620 shares of the utilities provider’s stock worth $143,000 after buying an additional 326 shares in the last quarter. Finally, Babb Wealth Advisors LLC bought a new position in Pinnacle West Capital during the 2nd quarter worth $200,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $89.35 on Wednesday. The company’s 50 day moving average price is $89.44 and its two-hundred day moving average price is $90.21. The firm has a market capitalization of $10.69 billion, a P/E ratio of 18.42, a P/E/G ratio of 9.23 and a beta of 0.50. 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 fifty-two week low of $81.47 and a fifty-two week high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.35. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $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 forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 4.1%. Pinnacle West Capital’s payout ratio is currently 74.74%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Barclays boosted their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. KeyCorp cut 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average target price 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.