Connor Clark & Lunn Investment Management Ltd. Invests $16.58 Million in Pinnacle West Capital Corporation $PNW

Connor Clark & Lunn Investment Management Ltd. bought a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent filing with the SEC. The firm bought 154,985 shares of the utilities provider’s stock, valued at approximately $16,583,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Pinnacle West Capital in the 4th quarter valued at $417,000. NewEdge Advisors LLC raised its holdings in Pinnacle West Capital by 999.1% during the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after buying an additional 7,463 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Pinnacle West Capital by 109.8% during the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock worth $215,000 after buying an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Pinnacle West Capital by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after buying an additional 41,173 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Pinnacle West Capital by 12.8% in the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after buying an additional 523 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

PNW stock opened at $97.69 on Wednesday. The firm has a market cap of $11.84 billion, a PE ratio of 18.71, a P/E/G ratio of 3.57 and a beta of 0.44. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $103.98 and a 200-day moving average of $101.89. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $1.58 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm 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. The ex-dividend date of this dividend 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 (DPR) is currently 69.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Jefferies Financial Group restated a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, BMO Capital Markets decreased their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $103.57.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction 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 sale, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. The trade was a 8.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the transaction, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.