Hsbc Holdings PLC Sells 44,376 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Hsbc Holdings PLC reduced its Pinnacle West Capital stake by 6.8%, selling 44,376 shares in the second quarter. It retained 606,558 shares valued at approximately $65.0 million, while institutional investors collectively owned 91.51% of the company.
• Analysts maintain a generally cautious view, with 15 ratings consisting of three Buys and twelve Holds. The consensus rating is “Hold,” with an average price target of $103.57.
• Pinnacle West reported quarterly EPS of $1.43, slightly below the $1.46 estimate, though revenue rose 7.1% year over year to $1.46 billion. The company pays a quarterly dividend of $0.91 per share, equating to a 3.7% yield.

Hsbc Holdings PLC decreased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 6.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 606,558 shares of the utilities provider's stock after selling 44,376 shares during the period. Hsbc Holdings PLC owned approximately 0.50% of Pinnacle West Capital worth $64,952,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its position in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 126 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Pinnacle West Capital in the 2nd quarter worth approximately $27,000. Compass Financial Management LLC purchased a new stake in Pinnacle West Capital in the second quarter worth approximately $33,000. Bell Investment Advisors Inc boosted its stake in Pinnacle West Capital by 144.9% in the second quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider's stock worth $36,000 after buying an additional 200 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital in the second quarter worth approximately $32,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

PNW has been the topic of several research reports. BMO Capital Markets decreased their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Truist Financial cut 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 note on Monday, August 17th. Barclays increased their target price on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, TD Cowen reissued a "hold" rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $103.57.

Insider Transactions at Pinnacle West Capital

In other news, SVP Luis Esparza, Jr. sold 1,800 shares of the 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 completion of the sale, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% 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, CAO Elizabeth Blankenship sold 980 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was 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 in the company, valued at $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $97.37 on Tuesday. The firm has a market cap of $11.80 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two 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 has a 50 day moving average price of $102.73 and a 200-day moving average price of $101.98.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 EPS. 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 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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

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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