Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Position in Pinnacle West Capital Corporation $PNW

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its Pinnacle West Capital stake by 5.5% in the first quarter, selling 12,393 shares and ending with 211,511 shares worth about $21.3 million.
• Analyst sentiment remains cautious overall: the stock has 3 Buy ratings and 12 Hold ratings, giving it a consensus Hold rating with an average price target of $104.14.
• Pinnacle West Capital recently beat earnings expectations, reported $0.27 EPS on $1.15 billion in revenue, and announced a quarterly dividend of $0.91 per share payable September 1, implying a 3.4% annualized yield.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,511 shares of the utilities provider's stock after selling 12,393 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.17% of Pinnacle West Capital worth $21,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Pinnacle West Capital by 1,302.3% in the 1st quarter. Fifth Third Bancorp now owns 61,433 shares of the utilities provider's stock valued at $6,189,000 after acquiring an additional 57,052 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Pinnacle West Capital by 0.8% during the first quarter. Hsbc Holdings PLC now owns 650,934 shares of the utilities provider's stock worth $65,555,000 after purchasing an additional 5,447 shares in the last quarter. Elevated Capital Advisors LLC purchased a new position in shares of Pinnacle West Capital in the first quarter valued at approximately $624,000. Kestra Advisory Services LLC boosted its stake in shares of Pinnacle West Capital by 294.7% in the first quarter. Kestra Advisory Services LLC now owns 3,935 shares of the utilities provider's stock valued at $396,000 after purchasing an additional 2,938 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of Pinnacle West Capital by 18.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,662 shares of the utilities provider's stock valued at $167,000 after purchasing an additional 254 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNW has been the subject of several recent research reports. Weiss Ratings raised shares of Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. 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 research report on Friday, May 29th. Argus increased their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Morgan Stanley set a $95.00 target price on Pinnacle West Capital in a report on Wednesday, June 24th. Finally, Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.14.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company's stock, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Stock Down 0.1%

Shares of NYSE:PNW opened at $108.05 on Monday. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $110.40. The firm's 50 day moving average price is $103.00 and its 200 day moving average price is $99.24. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 3.93 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the business posted ($0.04) EPS. The firm's revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts predict that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. Pinnacle West Capital's payout ratio is presently 67.78%.

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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