Pinnacle West Capital Corporation $PNW Stock Position Boosted by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Pinnacle West Capital position by 909.5% in the third quarter, bringing its holdings to 36,788 shares valued at approximately $3.42 million. Institutional investors collectively own 91.51% of PNW.
• Analyst sentiment remains mixed, with five Buy ratings and eleven Hold ratings. The stock has an average rating of Hold and an average price target of $103.39.
• Pinnacle West raised its quarterly dividend from $0.91 to $0.925 per share, equivalent to an annualized $3.70 dividend and a 3.5% yield. Its latest quarterly earnings of $1.43 per share fell slightly short of estimates, despite revenue exceeding forecasts.

Sterling Capital Management LLC boosted its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 909.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,788 shares of the utilities provider's stock after buying an additional 33,144 shares during the quarter. Sterling Capital Management LLC's holdings in Pinnacle West Capital were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PNW. Inspire Investing LLC lifted its position in Pinnacle West Capital by 5.3% in the third quarter. Inspire Investing LLC now owns 6,566 shares of the utilities provider's stock valued at $611,000 after purchasing an additional 333 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Pinnacle West Capital by 2.8% in the third quarter. Yousif Capital Management LLC now owns 24,767 shares of the utilities provider's stock worth $2,304,000 after buying an additional 673 shares during the period. Curry Webb Wealth Management LLC bought a new stake in Pinnacle West Capital during the 3rd quarter valued at $186,000. Root Financial Partners LLC bought a new stake in Pinnacle West Capital during the 3rd quarter valued at $83,000. Finally, Banque Pictet & Cie SA bought a new stake in Pinnacle West Capital during the 3rd quarter valued at $1,635,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pinnacle West Capital

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares of the company's stock, valued at $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PNW shares. HSBC initiated coverage on shares of Pinnacle West Capital in a report on Thursday. They set a "buy" rating and a $119.50 target price for the company. TD Cowen reiterated a "hold" rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Scotiabank assumed coverage on Pinnacle West Capital in a research report on Tuesday, September 29th. They set a "sector outperform" rating and a $104.00 price objective for the company. Wall Street Zen upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a report on Saturday, October 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Pinnacle West Capital from $129.00 to $109.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $103.39.

Pinnacle West Capital Price Performance

PNW stock opened at $105.98 on Friday. The firm has a 50 day moving average price of $97.63 and a 200-day moving average price of $101.23. Pinnacle West Capital Corporation has a 52-week low of $86.18 and a 52-week high of $111.16. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.79 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly 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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts forecast that Pinnacle West Capital Corporation will post 4.81 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.9250 per share. The ex-dividend date is Monday, November 2nd. This is a positive change from Pinnacle West Capital's previous quarterly dividend of $0.91. This represents a $3.70 dividend on an annualized basis and a yield of 3.5%. Pinnacle West Capital's dividend payout ratio (DPR) is presently 70.88%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation NYSE: PNW is an energy holding company based in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that generates, transmits and distributes electricity to customers across Arizona.

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.

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