Capital Research Global Investors Buys 758,190 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Capital Research Global Investors increased its stake in Pinnacle West by 5.0%, acquiring 758,190 shares to hold 15,853,302 shares (about 13.25%) valued at roughly $1.421 billion at quarter-end.
• Pinnacle West posted Q earnings of $0.13 (above estimates), set FY2026 guidance of 4.55–4.75 EPS, and pays a quarterly dividend of $0.91 (about a 3.6% yield).
• Brokerage coverage is mixed with a consensus rating of Hold and an average price target near $100.08, though several firms recently raised targets into the mid‑$90s to low‑$100s.

Capital Research Global Investors raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,853,302 shares of the utilities provider's stock after buying an additional 758,190 shares during the period. Capital Research Global Investors owned about 13.25% of Pinnacle West Capital worth $1,421,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Pinnacle West Capital by 2.2% in the second quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider's stock worth $1,322,482,000 after purchasing an additional 316,629 shares during the last quarter. Invesco Ltd. boosted its position in shares of Pinnacle West Capital by 2.5% during the second quarter. Invesco Ltd. now owns 4,248,954 shares of the utilities provider's stock valued at $380,154,000 after buying an additional 102,778 shares during the period. Geode Capital Management LLC grew its position in Pinnacle West Capital by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,026,662 shares of the utilities provider's stock valued at $270,282,000 after acquiring an additional 33,216 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pinnacle West Capital by 7.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider's stock worth $267,512,000 after buying an additional 203,136 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. boosted its holdings in shares of Pinnacle West Capital by 2.5% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,862,950 shares of the utilities provider's stock valued at $256,148,000 after purchasing an additional 69,404 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNW. Morgan Stanley set a $96.00 price target on Pinnacle West Capital in a report on Friday, February 20th. TD Cowen lifted their price objective on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. BMO Capital Markets lifted their target price on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a "market perform" rating in a report on Thursday, February 26th. Wells Fargo & Company raised their price objective on Pinnacle West Capital from $91.00 to $97.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $100.08.

Pinnacle West Capital Trading Down 1.2%

Shares of PNW stock opened at $101.23 on Tuesday. The stock has a market capitalization of $12.24 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $103.21. The company has a 50 day moving average price of $94.82 and a 200 day moving average price of $91.13.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.08. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company's revenue was up 3.0% 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 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd were given a $0.91 dividend. The ex-dividend date was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital's dividend payout ratio is presently 71.94%.

Pinnacle West Capital Company 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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