Barrow Hanley Mewhinney & Strauss LLC bought a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,575,681 shares of the utilities provider's stock, valued at approximately $703,598,000. Pinnacle West Capital accounts for approximately 2.1% of Barrow Hanley Mewhinney & Strauss LLC's holdings, making the stock its 7th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 5.43% of Pinnacle West Capital at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia acquired a new position in Pinnacle West Capital in the 2nd quarter worth approximately $568,000. Compass Financial Management LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at $33,000. Commerce Bank acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at $1,261,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Pinnacle West Capital in the second quarter valued at $705,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Pinnacle West Capital in the second quarter valued at $3,920,000. 91.51% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer owned 10,886 shares in the company, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction on Friday, August 7th. The shares were 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 of the company's stock, valued at approximately $500,869.10. The trade was a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.19% of the company's stock.
Analysts Set New Price Targets
PNW has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday. Jefferies Financial Group reissued a "buy" rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. TD Cowen restated a "hold" rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Finally, Barclays upped their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $103.57.
Read Our Latest Research Report on PNW
Pinnacle West Capital Price Performance
Shares of NYSE:PNW opened at $97.36 on Monday. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 3.56 and a beta of 0.44. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $104.21 and a 200 day simple moving average of $101.84.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its 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 net margin of 11.52% and a return on equity of 8.99%. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the firm earned $1.58 EPS. The business'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. As a group, sell-side analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.
Pinnacle West Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a $0.91 dividend. 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 payout ratio is presently 69.73%.
Pinnacle West Capital Company Profile
(
Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Pinnacle West Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinnacle West Capital wasn't on the list.
While Pinnacle West Capital currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
