Magellan Asset Management Ltd Makes New Investment in Pinnacle West Capital Corporation $PNW

Posted by Brian Himes on Aug 24th, 2026

Magellan Asset Management Ltd bought a new stake in Pinnacle West Capital Corporation (NYSE:PNW – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 127,654 shares of the utilities provider’s stock, valued at approximately $13,659,000. Magellan Asset Management Ltd owned 0.11% of Pinnacle West Capital as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. DNB Asset Management AS increased its stake in Pinnacle West Capital by 61.3% in the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock valued at $3,978,000 after purchasing an additional 17,037 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Pinnacle West Capital during the fourth quarter worth $1,789,000. Qsemble Capital Management LP grew its holdings in Pinnacle West Capital by 393.7% in the fourth quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider’s stock valued at $4,316,000 after purchasing an additional 38,805 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in Pinnacle West Capital in the fourth quarter valued at $1,047,000. Finally, LSV Asset Management increased its position in shares of Pinnacle West Capital by 46.4% in the fourth quarter. LSV Asset Management now owns 135,710 shares of the utilities provider’s stock valued at $12,037,000 after buying an additional 43,000 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on PNW shares. BMO Capital Markets cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Barclays raised their target price 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. Jefferies Financial Group restated a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.57.

View Our Latest Research Report on PNW

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $97.36 on Monday. The company has a 50-day simple moving average of $104.21 and a 200-day simple moving average of $101.84. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The company has a market cap of $11.80 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.56 and a beta of 0.44. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16.

Pinnacle West Capital (NYSE:PNW – Get Free Report) last announced its earnings results 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 firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. Pinnacle West Capital’s payout ratio is currently 69.73%.

Insiders Place Their Bets

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction dated Monday, August 10th. The stock was 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. This trade represents a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is owned by insiders.

Pinnacle West Capital Profile

(Free Report)

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.