Landscape Capital Management L.L.C. Invests $2.24 Million in Pinnacle West Capital Corporation $PNW

Key Points

• Landscape Capital Management initiated a $2.24 million position in Pinnacle West Capital during the second quarter by purchasing 20,912 shares. Institutional investors and hedge funds collectively own 91.51% of the utility’s stock.
• Analyst sentiment remains cautious, with 12 Hold ratings and three Buy ratings producing a consensus Hold rating and 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 declared a quarterly dividend of $0.91 per share, representing a 3.7% annualized yield.

Landscape Capital Management L.L.C. bought a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 20,912 shares of the utilities provider's stock, valued at approximately $2,238,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Pinnacle West Capital in the fourth quarter valued at about $140,468,000. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in 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 worth $395,712,000 after acquiring an additional 1,369,350 shares in the last quarter. Soroban Capital Partners LP grew its stake in shares of Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider's stock worth $388,373,000 after acquiring an additional 977,411 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $68,008,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $57,379,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNW shares. TD Cowen reaffirmed a "hold" rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a "buy" rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial cut 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 note on Monday, August 17th. Barclays raised their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $103.57.

Insider Activity at Pinnacle West Capital

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares of the company's stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Down 2.0%

Shares of PNW stock opened at $97.36 on Friday. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $111.16. The firm has a market capitalization of $11.80 billion, a PE ratio of 18.65, a P/E/G ratio of 3.56 and a beta of 0.44. 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 stock's 50-day simple moving average is $104.21 and its 200-day simple moving average is $101.77.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts expect 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 paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital's payout ratio is presently 69.73%.

Pinnacle West Capital 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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