Public Employees Retirement System of Ohio Makes New Investment in Pinnacle West Capital Corporation $PNW

Key Points

• Public Employees Retirement System of Ohio purchased 37,495 shares of Pinnacle West Capital worth approximately $4.0 million. Institutional investors collectively own 91.51% of the utility company.
• Analysts maintain a generally cautious view, with an average rating of “Hold” and an average price target of $103.57; recent targets range from $101 to $129.
• Pinnacle West reported quarterly EPS of $1.43, slightly below estimates, while revenue rose 7.1% year over year to $1.46 billion. The company pays a quarterly dividend of $0.91 per share, representing a 3.7% annualized yield.

Public Employees Retirement System of Ohio bought a new stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,495 shares of the utilities provider's stock, valued at approximately $4,012,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. DNB Asset Management AS grew its position in Pinnacle West Capital by 61.3% in the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider's stock valued at $3,978,000 after acquiring an additional 17,037 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Pinnacle West Capital during the 4th quarter valued at approximately $1,789,000. Qsemble Capital Management LP increased its position in Pinnacle West Capital by 393.7% during the 4th quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider's stock worth $4,316,000 after purchasing an additional 38,805 shares in the last quarter. LSV Asset Management lifted its stake in Pinnacle West Capital by 46.4% in the 4th quarter. LSV Asset Management now owns 135,710 shares of the utilities provider's stock valued at $12,037,000 after purchasing an additional 43,000 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in Pinnacle West Capital in the 4th quarter valued at approximately $1,047,000. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

PNW has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial reduced their price target on Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a report on Monday, August 17th. BMO Capital Markets dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Finally, Wall Street Zen lowered shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $103.57.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $97.82 on Friday. The stock's 50 day moving average is $103.15 and its 200 day moving average is $102.00. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The firm has a market cap of $11.86 billion, a P/E ratio of 18.74, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) 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 return on equity of 8.99% and a net margin of 11.52%.The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts expect that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 3rd were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.7%. Pinnacle West Capital's dividend payout ratio (DPR) is currently 69.73%.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the completion of the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Luis Esparza, Jr. sold 1,800 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company's stock.

About Pinnacle West Capital

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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