Pinnacle West Capital Corporation $PNW Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its stake in Pinnacle West by 84.1% in Q4, selling 38,048 shares and leaving 7,197 shares valued at about $634,000.
• Analysts show a consensus "Hold" rating with a consensus target price of $100.92 (3 Buys, 11 Holds, 1 Sell), while several firms recently raised their price targets.
• Pinnacle West reported a Q4 EPS beat ($0.13 vs. $0.05 est.) and set FY2026 guidance of $4.55–$4.75 EPS, vs. analysts' average forecast of about $5.13 for the year.

Allspring Global Investments Holdings LLC decreased its holdings in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 84.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,197 shares of the utilities provider's stock after selling 38,048 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pinnacle West Capital were worth $634,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Brighton Jones LLC bought a new stake in Pinnacle West Capital in the fourth quarter valued at about $417,000. NewEdge Advisors LLC increased its holdings in Pinnacle West Capital by 999.1% in the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider's stock valued at $782,000 after buying an additional 7,463 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Pinnacle West Capital by 109.8% in the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider's stock valued at $215,000 after buying an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Pinnacle West Capital by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider's stock valued at $42,010,000 after buying an additional 41,173 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Pinnacle West Capital by 12.8% in the first 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 during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup boosted their price objective on Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. Weiss Ratings restated a "buy (b)" rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. TD Cowen lifted their target price on Pinnacle West Capital from $97.00 to $100.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. UBS Group lifted their target price on Pinnacle West Capital from $94.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, December 17th. Finally, KeyCorp downgraded Pinnacle West Capital from an "overweight" rating to a "sector weight" rating in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $100.92.

Pinnacle West Capital Stock Performance

Shares of NYSE PNW opened at $103.67 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.30. The stock has a 50 day simple moving average of $99.54 and a 200-day simple moving average of $93.21. The company has a market cap of $12.55 billion, a PE ratio of 20.49, a P/E/G ratio of 3.83 and a beta of 0.49. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.08. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. 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 5.13 EPS for the current year.

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.

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.