Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 154,985 shares of the utilities provider's stock, valued at approximately $16,583,000. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Pinnacle West Capital at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PNW. JFS Wealth Advisors LLC lifted its stake in shares of Pinnacle West Capital by 109.6% in the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider's stock worth $26,000 after acquiring an additional 126 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at approximately $27,000. MUFG Securities EMEA plc acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at approximately $32,000. Compass Financial Management LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at approximately $33,000. Finally, Clearstead Advisors LLC raised its holdings in Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after purchasing an additional 185 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PNW has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial decreased their price objective on shares of Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating for the company in a research report on Monday, August 17th. Weiss Ratings restated a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. TD Cowen reaffirmed a "hold" rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of "Hold" and an average target price of $103.57.
Check Out Our Latest Stock Report on Pinnacle West Capital
Pinnacle West Capital Price Performance
Shares of PNW opened at $97.69 on Wednesday. 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 business's 50 day moving average price is $103.98 and its two-hundred day moving average price is $101.89. The firm has a market cap of $11.84 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.
Pinnacle West Capital Announces Dividend
The business 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 of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.7%. Pinnacle West Capital's dividend payout ratio is currently 69.73%.
Insider Buying and Selling at Pinnacle West Capital
In other Pinnacle West Capital news, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the completion of the sale, the chief accounting officer directly owned 10,886 shares of the company's stock, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by corporate insiders.
Pinnacle West Capital Profile
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Free Report)
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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