Great Lakes Advisors LLC Buys Shares of 10,719 Pinnacle West Capital Corporation $PNW

Great Lakes Advisors LLC purchased a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,719 shares of the utilities provider’s stock, valued at approximately $1,147,000.

Other institutional investors have also modified their holdings of the company. ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Pinnacle West Capital by 44.3% during the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after acquiring an additional 1,369,350 shares in the last quarter. Invesco Ltd. grew its holdings in Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock worth $376,910,000 after purchasing an additional 74,023 shares during the last quarter. Soroban Capital Partners LP grew its holdings in Pinnacle West Capital by 34.0% in the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after purchasing an additional 977,411 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 worth $274,117,000 after purchasing an additional 27,861 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Pinnacle West Capital by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock worth $305,344,000 after purchasing an additional 9,298 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $97.36 on Friday. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. 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. The company’s 50 day moving average is $104.21 and its 200 day moving average is $101.77.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates 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 was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNW. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. BMO Capital Markets reduced their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Wall Street Zen downgraded Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Barclays boosted their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $103.57.

Insiders Place Their Bets

In other Pinnacle West Capital news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 4,910 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company’s stock.

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.