Great Lakes Advisors LLC Purchases Shares of 10,719 Pinnacle West Capital Corporation $PNW

Key Points

• Great Lakes Advisors acquired 10,719 shares of Pinnacle West Capital valued at approximately $1.15 million, while institutional investors collectively own 91.51% of the company.
• Pinnacle West reported quarterly revenue of $1.46 billion, up 7.1% year over year, but earnings per share of $1.43 missed analyst estimates of $1.46.
• The company declared a quarterly dividend of $0.91 per share, representing a 3.7% annualized yield; analysts maintain a consensus “Hold” rating with an average price target of $103.57.

Great Lakes Advisors LLC acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 10,719 shares of the utilities provider's stock, valued at approximately $1,147,000.

Other large investors have also recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Pinnacle West Capital during the second quarter valued at approximately $171,000. Wealthfront Advisers LLC boosted its stake in Pinnacle West Capital by 61.0% during the 2nd quarter. Wealthfront Advisers LLC now owns 3,532 shares of the utilities provider's stock valued at $378,000 after purchasing an additional 1,338 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Pinnacle West Capital by 7.6% in the second quarter. Meeder Advisory Services Inc. now owns 4,939 shares of the utilities provider's stock worth $528,000 after acquiring an additional 350 shares during the period. Quent Capital LLC boosted its stake in shares of Pinnacle West Capital by 52.5% in the 2nd quarter. Quent Capital LLC now owns 880 shares of the utilities provider's stock worth $94,000 after buying an additional 303 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at about $218,000. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

PNW stock opened at $97.36 on Friday. The stock has a market cap of $11.80 billion, a PE ratio of 18.65, a P/E/G ratio of 3.56 and a beta of 0.44. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The company has a 50-day moving average price of $104.21 and a 200 day moving average price of $101.77. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the company earned $1.58 earnings per share. The business's revenue for the quarter was up 7.1% 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 anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital's dividend payout ratio is 69.73%.

Analyst Ratings Changes

PNW has been the topic of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Barclays boosted their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 1st. Morgan Stanley lowered their target price on Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating for the company in a research report on Friday. Jefferies Financial Group reissued a "buy" rating and issued a $129.00 target price on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Finally, Truist Financial reduced their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $103.57.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company's stock, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. The trade was a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company's stock.

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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