Franklin Resources Inc. Acquires 144,194 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Franklin Resources boosted its stake in Pinnacle West Capital by 15.5% in the fourth quarter, buying 144,194 additional shares and bringing its total holdings to 1,075,941 shares worth about $95.4 million.
• Pinnacle West Capital reported stronger-than-expected Q1 earnings, posting $0.27 EPS versus a consensus loss estimate and $1.15 billion in revenue, while also reaffirming FY 2026 EPS guidance of 4.55 to 4.75.
• The utility company continues to pay a solid dividend of $0.91 per quarter, equal to an annualized $3.64 yield of 3.5%, while analysts currently rate the stock a consensus Hold with a target price of $102.50.

Franklin Resources Inc. increased its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,075,941 shares of the utilities provider's stock after buying an additional 144,194 shares during the period. Franklin Resources Inc. owned about 0.90% of Pinnacle West Capital worth $95,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PNW. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital in the second quarter worth approximately $27,000. MUFG Securities EMEA plc bought a new position in Pinnacle West Capital in the second quarter worth approximately $32,000. Clearstead Advisors LLC raised its stake in Pinnacle West Capital by 88.5% in the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after buying an additional 185 shares in the last quarter. Dorato Capital Management bought a new position in Pinnacle West Capital in the fourth quarter worth approximately $69,000. Finally, Brown Brothers Harriman & Co. raised its stake in Pinnacle West Capital by 102.1% in the third quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider's stock worth $87,000 after buying an additional 488 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $103.19 on Thursday. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $104.92. The stock has a fifty day moving average price of $101.66 and a 200-day moving average price of $96.58. 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 $12.51 billion, a PE ratio of 19.22, a P/E/G ratio of 3.76 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted ($0.04) EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. 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 fiscal year.

Pinnacle West Capital Dividend Announcement

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

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of the company's 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 directly owned 6,634 shares of the company's stock, valued at $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PNW. Argus boosted their price objective on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. TD Cowen increased their price objective on Pinnacle West Capital from $100.00 to $101.00 and gave the company a "hold" rating in a report on Friday, May 15th. BMO Capital Markets increased 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. Barclays increased their price objective on Pinnacle West Capital from $101.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. Finally, Truist Financial decreased their price objective on Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating for the company in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.50.

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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