Mizuho Markets Americas LLC Makes New Investment in Pinnacle West Capital Corporation $PNW

Key Points

• Mizuho Markets Americas LLC initiated a new position in Pinnacle West Capital, buying 11,100 shares worth about $1.12 million in the first quarter.
• Institutional ownership remains heavy, with 91.51% of PNW shares held by institutions, while analyst sentiment stays mixed with a consensus rating of “Hold” and an average target price of $104.07.
• Pinnacle West recently beat earnings expectations and raised its FY 2026 EPS guidance, and it also announced a quarterly dividend of $0.91 per share, yielding about 3.5%.

Mizuho Markets Americas LLC bought a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,100 shares of the utilities provider's stock, valued at approximately $1,118,000.

Other institutional investors have also made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in Pinnacle West Capital in the second quarter worth $27,000. MUFG Securities EMEA plc acquired a new stake in shares of Pinnacle West Capital during the second quarter worth $32,000. Clearstead Advisors LLC lifted its position in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after buying an additional 185 shares during the last quarter. Dorato Capital Management acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $69,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Pinnacle West Capital by 168.2% in the 1st quarter. Root Financial Partners LLC now owns 885 shares of the utilities provider's stock valued at $89,000 after buying an additional 555 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNW has been the topic of several research reports. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. TD Cowen upped their target price on Pinnacle West Capital from $100.00 to $101.00 and gave the company a "hold" rating in a report on Friday, May 15th. Barclays increased their price target 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. Jefferies Financial Group reissued a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Finally, Truist Financial reduced their price objective on Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating for the company in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of "Hold" and a consensus target price of $104.07.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $105.37 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $104.26 and a 200-day simple moving average of $100.43. The company has a market cap of $12.77 billion, a PE ratio of 19.62, a P/E/G ratio of 3.87 and a beta of 0.43. 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 announced its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned ($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. On average, equities research analysts forecast that Pinnacle West Capital Corporation will post 4.73 EPS for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.5%. Pinnacle West Capital's dividend payout ratio is presently 67.78%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company's stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.