Ceredex Value Advisors LLC Takes $11.87 Million Position in Pinnacle West Capital Corporation $PNW

Key Points

• Ceredex Value Advisors initiated an approximately $11.87 million position in Pinnacle West Capital, purchasing 110,975 shares. Institutional investors collectively own 91.51% of the utility company.
• Analyst sentiment remains cautious, with three Buy ratings and twelve Holds giving PNW an overall “Hold” consensus and an average price target of $103.79.
• Pinnacle West reported quarterly EPS of $1.43, slightly below estimates, while revenue rose 7.1% year over year to $1.46 billion. The company declared a quarterly dividend of $0.91 per share, representing a 3.7% yield.

Ceredex Value Advisors LLC bought a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 110,975 shares of the utilities provider's stock, valued at approximately $11,874,000. Ceredex Value Advisors LLC owned approximately 0.09% of Pinnacle West Capital as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. DNB Asset Management AS lifted its position in shares of Pinnacle West Capital by 61.3% in the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider's stock valued at $3,978,000 after acquiring an additional 17,037 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth $1,789,000. Qsemble Capital Management LP grew its holdings in shares of Pinnacle West Capital by 393.7% during the fourth quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider's stock worth $4,316,000 after buying an additional 38,805 shares in the last quarter. LSV Asset Management raised its position in shares of Pinnacle West Capital by 46.4% in the fourth quarter. LSV Asset Management now owns 135,710 shares of the utilities provider's stock valued at $12,037,000 after buying an additional 43,000 shares during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $1,047,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Barclays increased their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. TD Cowen reissued a "hold" rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Truist Financial lowered their target price on Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a report on Monday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of "Hold" and an average price target of $103.79.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $99.29 on Friday. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16. The stock has a market cap of $12.03 billion, a P/E ratio of 19.02, a PEG ratio of 3.63 and a beta of 0.44. The company has a 50-day moving average price of $104.33 and a 200 day moving average price of $101.80. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

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). The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.Pinnacle West Capital's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital's payout ratio is presently 69.73%.

Insider Activity at Pinnacle West Capital

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company's 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 transaction, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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 $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by insiders.

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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