Sanctuary Advisors LLC purchased a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,395 shares of the utilities provider’s stock, valued at approximately $577,000.
A number of other hedge funds have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC raised its stake in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 126 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital in the second quarter valued at $27,000. MUFG Securities EMEA plc acquired a new position in Pinnacle West Capital during the second quarter worth $32,000. Compass Financial Management LLC bought a new stake in Pinnacle West Capital during the second quarter worth $33,000. Finally, Clearstead Advisors LLC raised its position in Pinnacle West Capital by 88.5% during the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 185 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on PNW. Wall Street Zen downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. BMO Capital Markets cut their target price on shares of 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. Barclays lifted their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Truist Financial dropped their price objective on 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $103.57.
Insider Transactions at Pinnacle West Capital
In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction dated 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 sale, 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 SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by company insiders.
Pinnacle West Capital Stock Performance
NYSE:PNW opened at $97.51 on Friday. The stock has a market cap of $11.82 billion, a P/E ratio of 18.68, a PEG ratio of 3.57 and a beta of 0.44. 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 current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16.
Pinnacle West Capital (NYSE:PNW – Get Free Report) last released 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). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.
Pinnacle West Capital Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. Pinnacle West Capital’s dividend payout ratio is 69.73%.
About Pinnacle West Capital
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.
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