Ensign Peak Advisors Inc Has $2.58 Million Stock Position in Pinnacle West Capital Corporation $PNW

Ensign Peak Advisors Inc cut its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,796 shares of the utilities provider’s stock after selling 2,200 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Pinnacle West Capital were worth $2,576,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Clearstead Trust LLC acquired a new stake in shares of Pinnacle West Capital during the first quarter worth approximately $25,000. Costello Asset Management INC purchased a new stake in Pinnacle West Capital in the 1st quarter worth approximately $26,000. Ameritas Advisory Services LLC acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at $31,000. Brooklyn Investment Group boosted its stake in shares of Pinnacle West Capital by 440.0% during the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock valued at $46,000 after buying an additional 396 shares during the period. Finally, CNB Bank purchased a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNW. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Argus cut their price target on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. TD Cowen initiated coverage on Pinnacle West Capital in a report on Thursday, October 16th. They set a “hold” rating and a $97.00 price target for the company. Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.38.

Pinnacle West Capital Price Performance

NYSE PNW opened at $90.61 on Thursday. Pinnacle West Capital Corporation has a 1 year low of $81.47 and a 1 year high of $96.50. The company has a fifty day simple moving average of $89.71 and a 200 day simple moving average of $90.08. 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 company has a market cap of $10.85 billion, a P/E ratio of 18.68, a P/E/G ratio of 9.23 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last announced its 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 net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm posted $3.37 EPS. The business’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, sell-side analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $3.64 annualized dividend and a dividend yield of 4.0%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s payout ratio is presently 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.