576,481 Shares in Pinnacle West Capital Corporation $PNW Purchased by Legal & General Group Plc

Posted by Brenda Bartman on Aug 29th, 2026

Legal & General Group Plc purchased a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 576,481 shares of the utilities provider’s stock, valued at approximately $61,683,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC grew its stake in shares of Pinnacle West Capital by 109.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 126 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $27,000. Compass Financial Management LLC bought a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $33,000. Bell Investment Advisors Inc boosted its stake in Pinnacle West Capital by 144.9% in the 2nd quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Pinnacle West Capital in the 2nd quarter valued at $32,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial reduced their target price on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. BMO Capital Markets reduced their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Barclays upped their target price on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Finally, TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average target price of $103.57.

Get Our Latest Stock Report on PNW

Insider Activity at Pinnacle West Capital

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were 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 owned 4,910 shares in the company, valued at $500,869.10. The trade was a 26.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by corporate insiders.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $97.51 on Friday. The stock has a 50-day simple moving average of $103.72 and a 200 day simple moving average of $101.92. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 3.58 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

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

About Pinnacle West Capital

(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.