Hsbc Holdings PLC Raises Stake in Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC increased its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 650,934 shares of the utilities provider’s stock after buying an additional 5,447 shares during the quarter. Hsbc Holdings PLC’s holdings in Pinnacle West Capital were worth $65,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PNW. Norges Bank acquired a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $140,468,000. ATLAS Infrastructure Partners UK Ltd. grew its holdings in Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock valued at $395,712,000 after purchasing an additional 1,369,350 shares during the period. Balyasny Asset Management L.P. acquired a new position in Pinnacle West Capital during the fourth quarter worth approximately $68,008,000. Wellington Management Group LLP acquired a new position in Pinnacle West Capital during the fourth quarter worth approximately $57,379,000. Finally, Assenagon Asset Management S.A. raised its stake in Pinnacle West Capital by 133.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock worth $81,665,000 after purchasing an additional 526,212 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 0.0%

NYSE:PNW opened at $107.74 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The business’s 50-day simple moving average is $103.76 and its 200 day simple moving average is $99.95. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 3.92 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data 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 return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm earned ($0.04) EPS. Pinnacle West Capital’s quarterly revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts predict that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is 67.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Weiss Ratings upgraded Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Truist Financial lowered their price target on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, May 29th. TD Cowen upped their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Finally, Argus raised their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.14.

Insider Activity at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital 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 transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.