Pinnacle West Capital Corporation $PNW Stake Cut by Vanguard Group Inc.

Key Points

• Vanguard Group marginally cut its stake in Pinnacle West by 0.1% to 14,661,160 shares (about 12.25% of the company), while several other large institutional investors increased positions and overall institutional ownership stands at 91.51%.
• Pinnacle West beat quarterly EPS estimates ($0.13 vs. $0.05), set FY2026 guidance of 4.55–4.75 EPS (analysts expect ~4.7), though revenue was slightly below expectations.
• The company announced a quarterly dividend of $0.91 ($3.64 annual, ~3.5% yield); analysts have a consensus rating of "Hold" with an average price target of $103.00.

Vanguard Group Inc. cut its stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,661,160 shares of the utilities provider's stock after selling 11,255 shares during the period. Vanguard Group Inc. owned 12.25% of Pinnacle West Capital worth $1,300,445,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its position in Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider's stock worth $1,421,407,000 after buying an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Pinnacle West Capital by 8.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider's stock worth $647,679,000 after buying an additional 568,581 shares during the period. Massachusetts Financial Services Co. MA increased its position in Pinnacle West Capital by 7.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider's stock worth $267,512,000 after buying an additional 203,136 shares during the period. Reaves W H & Co. Inc. increased its position in Pinnacle West Capital by 21.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider's stock worth $161,757,000 after buying an additional 316,193 shares during the period. Finally, First Trust Advisors LP increased its position in Pinnacle West Capital by 6.3% in the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider's stock worth $117,223,000 after buying an additional 76,930 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PNW shares. Barclays increased their target price on Pinnacle West Capital from $97.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 31st. Argus increased their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $103.00 target price on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Finally, Citigroup raised their price target on Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $103.00.

Pinnacle West Capital Price Performance

Shares of PNW opened at $103.84 on Friday. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.72 and a beta of 0.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $104.92. The stock's fifty day moving average is $101.45 and its 200-day moving average is $94.53.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, May 4th. Pinnacle West Capital's payout ratio is presently 71.94%.

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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