87,891 Shares in Pinnacle West Capital Corporation $PNW Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 87,891 Pinnacle West shares worth approximately $9.4 million, while institutional investors collectively own 91.51% of the company.
• Analysts remain cautious, with 12 Hold ratings and three Buy ratings; the stock has an average price target of $103.57 versus a recent price of $97.51.
• Pinnacle West reported quarterly EPS of $1.43, slightly below expectations, despite 7.1% year-over-year revenue growth. The company declared a quarterly dividend of $0.91 per share, representing a 3.7% annualized yield.

Corient Private Wealth LP acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 87,891 shares of the utilities provider's stock, valued at approximately $9,405,000. Corient Private Wealth LP owned 0.07% of Pinnacle West Capital at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Invst LLC bought a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at $729,000. Jupiter Topco LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth $5,879,000. Hsbc Holdings PLC bought a new position in Pinnacle West Capital in the 2nd quarter worth $64,952,000. Ancora Advisors LLC bought a new position in Pinnacle West Capital in the 2nd quarter worth $80,000. Finally, Canada Pension Plan Investment Board purchased a new position in Pinnacle West Capital during the second quarter valued at $2,643,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen reiterated a "hold" rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Morgan Stanley decreased their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating on the stock in a research note on Friday, August 21st. Truist Financial lowered their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, August 17th. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, Barclays increased their price objective on shares of 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 stock. According to MarketBeat.com, Pinnacle West Capital presently has an average rating of "Hold" and an average target price of $103.57.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction on Monday, August 10th. The shares were 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 approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the 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 sale, 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. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Trading Down 0.1%

Pinnacle West Capital stock opened at $97.51 on Monday. The stock has a market cap of $11.82 billion, a P/E ratio of 18.68, a PEG ratio of 3.57 and a beta of 0.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The firm's 50 day moving average price is $103.72 and its 200-day moving average price is $101.98.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $1.58 earnings per share. The company's revenue for the quarter 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. On average, equities analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital's dividend payout ratio is presently 69.73%.

Pinnacle West Capital Profile

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.

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