Sumitomo Mitsui DS Asset Management Company Ltd Sells 14,773 Shares of Pinnacle West Capital Corporation $PNW

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 81.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,435 shares of the utilities provider’s stock after selling 14,773 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pinnacle West Capital were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors increased its position in shares of Pinnacle West Capital by 5.0% during the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after acquiring an additional 758,190 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Pinnacle West Capital by 8.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after acquiring an additional 568,581 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pinnacle West Capital by 7.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider’s stock valued at $267,512,000 after acquiring an additional 203,136 shares in the last quarter. Reaves W H & Co. Inc. increased its position in shares of Pinnacle West Capital by 21.3% during the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock valued at $161,757,000 after acquiring an additional 316,193 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Pinnacle West Capital by 6.3% during the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after acquiring an additional 76,930 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW opened at $99.27 on Monday. The firm has a market cap of $12.03 billion, a PE ratio of 18.49, a P/E/G ratio of 3.64 and a beta of 0.46. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The firm has a fifty day simple moving average of $101.50 and a two-hundred day simple moving average of $94.70. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $104.92.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) 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 the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted ($0.04) EPS. The company’s revenue for the quarter 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, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. Pinnacle West Capital’s payout ratio is 67.78%.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research reports. Barclays boosted their target price on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets boosted their target price on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research note on Thursday, February 26th. TD Cowen boosted their target price on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Finally, Citigroup boosted their target price on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and an average price target of $103.07.

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.