California State Teachers Retirement System Purchases 14,835,851 Shares of Pinnacle West Capital Corporation $PNW

California State Teachers Retirement System grew its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 10,353.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,979,144 shares of the utilities provider's stock after acquiring an additional 14,835,851 shares during the quarter. California State Teachers Retirement System owned 12.36% of Pinnacle West Capital worth $1,602,768,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC grew its position in shares of Pinnacle West Capital by 109.6% in the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 126 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital in the 2nd quarter valued at about $27,000. MUFG Securities EMEA plc acquired a new position in Pinnacle West Capital during the second quarter valued at approximately $32,000. Compass Financial Management LLC bought a new stake in shares of Pinnacle West Capital during the 2nd quarter worth $33,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 88.5% in the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after acquiring an additional 185 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PNW shares. Barclays boosted 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. TD Cowen reiterated a "hold" rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a "buy" rating and set a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Finally, Truist Financial dropped their target price 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. Three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $104.62.

Pinnacle West Capital Stock Down 0.3%

PNW opened at $96.26 on Friday. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $111.16. The company's 50-day moving average is $101.85 and its 200 day moving average is $101.92. The firm has a market capitalization of $11.67 billion, a P/E ratio of 18.44, a PEG ratio of 3.53 and a beta of 0.45. 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 (NYSE:PNW - Get Free Report) last released 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). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 3rd were paid a $0.91 dividend. 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 payout ratio is currently 69.73%.

Insider Activity

In related news, 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 sale, the senior vice president owned 4,910 shares of the company's stock, valued at approximately $500,869.10. This represents a 26.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Elizabeth A. Blankenship sold 980 shares of the firm's 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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by corporate insiders.

Pinnacle West Capital Company Profile

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.

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