Canada Pension Plan Investment Board Invests $2.64 Million in Pinnacle West Capital Corporation $PNW

Canada Pension Plan Investment Board bought a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,700 shares of the utilities provider's stock, valued at approximately $2,643,000.

Several other large investors have also recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Pinnacle West Capital during the 2nd quarter worth about $703,598,000. ATLAS Infrastructure Partners UK Ltd. lifted its stake in shares of 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 buying an additional 1,369,350 shares during the period. Invesco Ltd. lifted its stake in shares of Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider's stock valued at $376,910,000 after buying an additional 74,023 shares during the period. Soroban Capital Partners LP grew its position in Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider's stock worth $388,373,000 after buying an additional 977,411 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider's stock worth $274,117,000 after buying an additional 27,861 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Down 0.1%

Shares of NYSE:PNW opened at $97.51 on Monday. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $111.16. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. The company's fifty day moving average is $103.72 and its 200-day moving average is $101.98. The company has a market capitalization of $11.82 billion, a PE ratio of 18.68, a P/E/G ratio of 3.57 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $1.58 EPS. 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. Equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.91 per share. 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 dividend payout ratio (DPR) is presently 69.73%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Wall Street Zen downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Morgan Stanley decreased their price objective on Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday, August 21st. Jefferies Financial Group restated a "buy" rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, Truist Financial cut their target price on Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $103.57.

Insider Activity at Pinnacle West Capital

In related news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $102.01, for a total value of $183,618.00. Following the sale, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company's stock.

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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