Capital World Investors Makes New Investment in Pinnacle West Capital Corporation $PNW

Key Points

• Capital World Investors initiated a new position in Pinnacle West Capital during the fourth quarter, buying 175,506 shares worth about $15.6 million and owning roughly 0.15% of the utility company.
• Pinnacle West reported better-than-expected quarterly results, with EPS of $0.27 versus an expected loss, and revenue of $1.15 billion, up 11.4% year over year. The company also reaffirmed FY 2026 guidance of 4.55 to 4.75 EPS.
• The company pays a quarterly dividend of $0.91, or $3.64 annualized, which works out to a 3.5% yield. Meanwhile, analysts currently rate the stock a consensus Hold with an average price target of $102.50.

Capital World Investors acquired a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 175,506 shares of the utilities provider's stock, valued at approximately $15,567,000. Capital World Investors owned approximately 0.15% of Pinnacle West Capital at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Stratos Wealth Partners LTD. lifted its holdings in shares of Pinnacle West Capital by 2.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider's stock valued at $418,000 after purchasing an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 11.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider's stock valued at $119,000 after purchasing an additional 140 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Pinnacle West Capital by 2.9% during the 3rd quarter. Savant Capital LLC now owns 5,549 shares of the utilities provider's stock valued at $497,000 after purchasing an additional 154 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Pinnacle West Capital by 4.7% during the 4th quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider's stock valued at $331,000 after purchasing an additional 167 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Pinnacle West Capital by 0.7% during the 3rd quarter. Rothschild Investment LLC now owns 24,934 shares of the utilities provider's stock valued at $2,236,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $102.76 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92. The company has a market capitalization of $12.45 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 3.71 and a beta of 0.44. The firm's 50 day moving average is $101.61 and its 200-day moving average is $96.48.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company earned ($0.04) earnings per share. The firm's revenue was up 11.4% 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 anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were issued a $0.91 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital's dividend payout ratio (DPR) is 67.78%.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares in the company, valued at $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PNW shares. Citigroup lifted their price objective on Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. Barclays lifted their price objective on Pinnacle West Capital from $101.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Argus lifted their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Truist Financial cut their price objective on Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating on the stock in a report on Friday, May 29th. Three 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, Pinnacle West Capital currently has an average rating of "Hold" and an average price target of $102.50.

About Pinnacle West Capital

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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