Fifth Third Bancorp Increases Stock Position in Pinnacle West Capital Corporation $PNW

Key Points

• Fifth Third Bancorp dramatically increased its stake in Pinnacle West Capital, boosting holdings by 1,302.3% in the first quarter to 61,433 shares valued at about $6.19 million.
• Pinnacle West Capital reported better-than-expected quarterly results, posting EPS of $0.27 versus an expected loss and revenue of $1.15 billion, up 11.4% year over year.
• The company declared a quarterly dividend of $0.91 per share, implying an annualized yield of 3.3%, while analysts currently rate the stock a consensus Hold with a $104.14 price target.

Fifth Third Bancorp boosted its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 1,302.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,433 shares of the utilities provider's stock after buying an additional 57,052 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of Pinnacle West Capital worth $6,189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNW. Oregon Public Employees Retirement Fund grew its position in shares of Pinnacle West Capital by 0.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider's stock valued at $1,386,000 after acquiring an additional 100 shares during the period. Empowered Funds LLC raised its holdings in Pinnacle West Capital by 3.8% in the 4th quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider's stock worth $281,000 after purchasing an additional 116 shares during the period. Stratos Wealth Partners LTD. boosted its position in Pinnacle West Capital by 2.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider's stock worth $418,000 after purchasing an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider's stock worth $119,000 after purchasing an additional 140 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in 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 during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $109.30 on Friday. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $110.40. The stock has a 50 day moving average of $103.59 and a two-hundred day moving average of $99.81. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The firm has a market cap of $13.25 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 3.90 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.30. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts expect that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.3%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 67.78%.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Weiss Ratings raised shares of Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. TD Cowen boosted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a "hold" rating in a report on Friday, May 15th. Finally, Jefferies Financial Group restated a "buy" rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $104.14.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction on Wednesday, May 13th. The shares were 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. The trade was a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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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