Voya Investment Management LLC Trims Stock Holdings in Pinnacle West Capital Corporation $PNW

Voya Investment Management LLC reduced its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 20.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,841 shares of the utilities provider’s stock after selling 7,785 shares during the quarter. Voya Investment Management LLC’s holdings in Pinnacle West Capital were worth $2,676,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PNW. Exchange Traded Concepts LLC raised its holdings in Pinnacle West Capital by 1.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock valued at $881,000 after acquiring an additional 122 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in shares of Pinnacle West Capital by 0.9% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,516 shares of the utilities provider’s stock valued at $1,209,000 after purchasing an additional 122 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Pinnacle West Capital by 11.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 140 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Pinnacle West Capital by 2.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 5,165 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 148 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Pinnacle West Capital by 4.6% in the 2nd quarter. Fifth Third Bancorp now owns 3,643 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 160 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNW. TD Cowen assumed coverage on Pinnacle West Capital in a research report on Thursday, October 16th. They set a “hold” rating and a $97.00 price target on the stock. Wells Fargo & Company raised shares of Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. UBS Group upped their target price on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Argus cut their price target on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $96.58.

Pinnacle West Capital Trading Up 0.1%

Shares of Pinnacle West Capital stock opened at $88.44 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. Pinnacle West Capital Corporation has a 1 year low of $81.47 and a 1 year high of $96.50. The firm has a market cap of $10.59 billion, a PE ratio of 18.16, a PEG ratio of 8.62 and a beta of 0.54. The company has a 50 day simple moving average of $89.07 and a two-hundred day simple moving average of $89.74.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a net margin of 11.20% and a return on equity of 8.57%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company 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 and its FY 2025 guidance at 4.900-5.100 EPS. Analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 4.1%. Pinnacle West Capital’s dividend payout ratio is 74.74%.

Pinnacle West Capital Profile

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.