Epoch Investment Partners Inc. Purchases 19,560 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Epoch Investment Partners increased its stake in Pinnacle West Capital by 4.0% in the fourth quarter, adding 19,560 shares and bringing its total holdings to 505,252 shares worth about $44.8 million.
• Several other institutions also raised their positions, and overall 91.51% of Pinnacle West Capital’s stock is now owned by institutional investors.
• Analysts remain cautious: the stock has a consensus "Hold" rating with a target price of $102.50, while the company also posted better-than-expected quarterly earnings and continues to pay a dividend yielding about 3.5%.

Epoch Investment Partners Inc. grew its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,252 shares of the utilities provider's stock after purchasing an additional 19,560 shares during the period. Epoch Investment Partners Inc. owned approximately 0.42% of Pinnacle West Capital worth $44,816,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider's stock valued at $281,000 after purchasing an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Pinnacle West Capital by 2.9% in the fourth 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% in the second 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. Truist Financial Corp lifted its holdings in shares of Pinnacle West Capital by 4.7% in the fourth 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% in the third 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. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PNW. Weiss Ratings upgraded Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. BMO Capital Markets raised their price objective on Pinnacle West Capital from $98.00 to $107.00 and gave the company a "market perform" rating in a report on Thursday, February 26th. Argus lifted their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. TD Cowen upped their target price on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a "hold" rating in a report on Friday, May 15th. Finally, Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital presently has an average rating of "Hold" and a consensus target price of $102.50.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $103.26 on Monday. The firm has a market cap of $12.51 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $104.92. The business's 50 day moving average is $101.73 and its 200-day moving average is $96.77.

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

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. Pinnacle West Capital's dividend payout ratio is currently 67.78%.

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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