Pinnacle West Capital Corporation $PNW Stock Sold by Perpetual Ltd

Key Points

• Perpetual Ltd. reduced its Pinnacle West Capital position by 6.3% in the third quarter, selling 38,617 shares and retaining 570,081 shares valued at approximately $53 million.
• Institutional investors and hedge funds hold 91.51% of PNW’s outstanding stock, with several large firms—including ATLAS Infrastructure Partners, Soroban Capital Partners, and Wellington Management—recently increasing their stakes.
• Analysts maintain a consensus “Hold” rating with an average price target of $101.64. PNW recently traded near $99.87, while its latest quarterly earnings of $1.43 per share fell slightly short of expectations.

Perpetual Ltd lessened its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 570,081 shares of the utilities provider's stock after selling 38,617 shares during the quarter. Perpetual Ltd owned approximately 0.47% of Pinnacle West Capital worth $53,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PNW. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pinnacle West Capital in the 2nd quarter valued at about $703,598,000. ATLAS Infrastructure Partners UK Ltd. grew its holdings in shares of Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider's stock valued at $395,712,000 after purchasing an additional 1,369,350 shares in the last quarter. Soroban Capital Partners LP increased its stake in Pinnacle West Capital by 34.0% during the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider's stock worth $388,373,000 after buying an additional 977,411 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Pinnacle West Capital by 0.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider's stock worth $305,344,000 after buying an additional 9,298 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Pinnacle West Capital by 101.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,456,941 shares of the utilities provider's stock worth $155,893,000 after buying an additional 733,069 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of several recent research reports. Scotiabank assumed coverage on shares of Pinnacle West Capital in a research report on Tuesday, September 29th. They issued a "sector outperform" rating and a $104.00 price target for the company. TD Cowen reaffirmed a "hold" rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. BMO Capital Markets reduced their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Pinnacle West Capital from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $101.64.

Insiders Place Their Bets

In other Pinnacle West Capital news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president directly owned 4,910 shares of the company's stock, valued at $500,869.10. The trade was a 26.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company's stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Trading Up 1.0%

Shares of NYSE:PNW opened at $99.87 on Tuesday. Pinnacle West Capital Corporation has a 52 week low of $86.18 and a 52 week high of $111.16. The company's 50 day moving average is $97.17 and its two-hundred day moving average is $101.07. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The company has a market cap of $12.10 billion, a PE ratio of 19.13, a P/E/G ratio of 3.60 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. Pinnacle West Capital's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts predict that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Company Profile

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

APS operates a diverse portfolio of power resources, including natural gas, nuclear, solar and other renewable generation facilities. The company is also one of the owners and operators of the Palo Verde Generating Station, a nuclear power facility west of Phoenix that supplies electricity to customers in Arizona and other western states.

Pinnacle West was incorporated in 1985 and has focused primarily on providing reliable electricity and supporting Arizona's growing energy needs.

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