Mitsubishi UFJ Asset Management Co. Ltd. Purchases 13,846 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Pinnacle West Capital by 11.1% in the fourth quarter, buying 13,846 more shares and bringing its total holding to 138,626 shares worth about $12.2 million.
• Pinnacle West Capital’s latest quarterly results beat expectations, with EPS of $0.27 versus a consensus loss estimate and revenue of $1.15 billion, up 11.4% year over year.
• The company also declared a quarterly dividend of $0.91 per share, equal to an annualized yield of 3.7%, while analysts currently rate the stock a consensus “Hold” with an average price target of $103.07.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,626 shares of the utilities provider's stock after acquiring an additional 13,846 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.12% of Pinnacle West Capital worth $12,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in Pinnacle West Capital during the fourth quarter valued at $417,000. NewEdge Advisors LLC grew its stake in shares of Pinnacle West Capital by 999.1% in the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider's stock worth $782,000 after buying an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Pinnacle West Capital by 109.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider's stock worth $215,000 after buying an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pinnacle West Capital by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider's stock worth $42,010,000 after buying an additional 41,173 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Pinnacle West Capital by 12.8% during the 1st quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider's stock valued at $438,000 after buying an additional 523 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PNW. Truist Financial started coverage on Pinnacle West Capital in a research report on Monday, April 20th. They issued a "hold" rating and a $108.00 price target for the company. Royal Bank Of Canada restated a "sector perform" rating and set a $103.00 price objective on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research note on Tuesday, April 21st. Argus lifted their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Finally, TD Cowen boosted their target price on Pinnacle West Capital from $97.00 to $100.00 and gave the company a "hold" rating in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $103.07.

Pinnacle West Capital Price Performance

PNW stock opened at $99.27 on Monday. The stock has a market cap of $12.03 billion, a PE ratio of 18.49, a P/E/G ratio of 3.64 and a beta of 0.46. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $104.92. The company has a 50-day moving average price of $101.50 and a 200 day moving average price of $94.70. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted ($0.04) EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. 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 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th. Pinnacle West Capital's dividend payout ratio (DPR) is currently 67.78%.

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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