Tidal Investments LLC Has $3.81 Million Stock Holdings in Pinnacle West Capital Corporation $PNW

Tidal Investments LLC raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 233.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 35,637 shares of the utilities provider’s stock after acquiring an additional 24,946 shares during the period. Tidal Investments LLC’s holdings in Pinnacle West Capital were worth $3,813,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PNW. California State Teachers Retirement System grew its holdings in Pinnacle West Capital by 10,353.5% during the second quarter. California State Teachers Retirement System now owns 14,979,144 shares of the utilities provider’s stock valued at $1,602,768,000 after purchasing an additional 14,835,851 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Pinnacle West Capital in the second quarter worth $703,598,000. Norges Bank bought a new position in shares of Pinnacle West Capital during the fourth quarter worth $140,468,000. ATLAS Infrastructure Partners UK Ltd. boosted 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. Finally, Soroban Capital Partners LP grew its holdings in shares of Pinnacle West Capital by 34.0% in the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after buying an additional 977,411 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth Blankenship sold 980 shares of Pinnacle West Capital 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 owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the completion of the sale, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PNW. Morgan Stanley lowered their price objective on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Truist Financial reduced their target price on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. TD Cowen reissued a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Finally, Barclays increased their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.62.

Pinnacle West Capital Stock Down 0.7%

Pinnacle West Capital stock opened at $95.43 on Tuesday. The stock has a market capitalization of $11.57 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 3.51 and a beta of 0.45. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16. 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 company has a 50 day moving average of $101.62 and a 200-day moving average of $101.90.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is 69.73%.

About Pinnacle West Capital

Pinnacle West Capital Corporation (NYSE: PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.