Jupiter Topco LLC Acquires Shares of 54,939 Pinnacle West Capital Corporation $PNW

Key Points

• Jupiter Topco LLC acquired 54,939 shares of Pinnacle West Capital worth approximately $5.9 million during the second quarter. Institutional investors collectively own 91.51% of the utility company.
• Analysts maintain a generally cautious outlook, with three Buy ratings 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 estimates, while revenue rose 7.1% year over year to $1.46 billion. The company also declared a quarterly dividend of $0.91 per share, representing a 3.7% yield.

Jupiter Topco LLC bought a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 54,939 shares of the utilities provider's stock, valued at approximately $5,879,000.

A number of other large investors have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Pinnacle West Capital during the 2nd quarter valued at $703,598,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider's stock valued at $395,712,000 after acquiring an additional 1,369,350 shares in the last quarter. Invesco Ltd. lifted its stake in Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider's stock worth $376,910,000 after acquiring an additional 74,023 shares during the period. Soroban Capital Partners LP increased its position in Pinnacle West Capital by 34.0% during the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider's stock valued at $388,373,000 after purchasing an additional 977,411 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Pinnacle West Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider's stock valued at $274,117,000 after purchasing an additional 27,861 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, August 17th. BMO Capital Markets dropped their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Barclays raised their price objective on Pinnacle West Capital from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating for the company in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $103.57.

Insider Activity

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the company's stock in a transaction dated 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 owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 4,910 shares of the company's stock, valued at $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by company insiders.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $97.66 on Tuesday. The business's fifty day simple moving average is $103.63 and its 200-day simple moving average is $102.00. The company has a market cap of $11.84 billion, a PE ratio of 18.71, a PEG ratio of 3.57 and a beta of 0.44. 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 Corporation has a 12-month low of $85.32 and a 12-month high of $111.16.

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 business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.58 EPS. The firm'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. Analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared 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. 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 (DPR) is currently 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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