Pinnacle West Capital Corporation $PNW Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,094 shares of the utilities provider’s stock after acquiring an additional 5,237 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Pinnacle West Capital worth $7,264,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. ATLAS Infrastructure Partners UK Ltd. lifted its position in shares of Pinnacle West Capital by 44.3% during the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after purchasing an additional 1,369,350 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after purchasing an additional 74,023 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after purchasing an additional 27,861 shares in the last quarter. Norges Bank acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $140,468,000. Finally, First Trust Advisors LP increased its stake in Pinnacle West Capital by 4.9% during the 4th quarter. First Trust Advisors LP now owns 1,371,150 shares of the utilities provider’s stock worth $121,621,000 after buying an additional 63,729 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 0.2%

NYSE PNW opened at $106.22 on Monday. The firm’s fifty day moving average price is $104.42 and its 200 day moving average price is $100.56. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 3.86 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned ($0.04) earnings per share. Pinnacle West Capital’s quarterly revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts expect that Pinnacle West Capital Corporation will post 4.74 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is presently 67.78%.

Insider Buying and Selling at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

PNW has been the topic of a number of research reports. TD Cowen increased their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Jefferies Financial Group restated a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Weiss Ratings raised Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Argus increased their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.07.

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.