Rakuten Investment Management Inc. Invests $1.39 Million in Pinnacle West Capital Corporation $PNW

Key Points

• Rakuten Investment Management acquired 12,849 Pinnacle West Capital shares worth approximately $1.39 million in the second quarter. Institutional investors collectively own 91.51% of the utility company.
• Pinnacle West reported quarterly EPS of $1.43, slightly below the $1.46 consensus estimate, while revenue of $1.46 billion exceeded expectations and rose 7.1% year over year.
• The company declared a quarterly dividend of $0.91, equivalent to an annualized $3.64 payout and a 3.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $103.57.

Rakuten Investment Management Inc. bought a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 12,849 shares of the utilities provider's stock, valued at approximately $1,386,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in Pinnacle West Capital by 109.6% during the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider's stock worth $26,000 after purchasing an additional 126 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital during the second quarter valued at approximately $27,000. MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at approximately $32,000. Compass Financial Management LLC bought a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at approximately $33,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after buying an additional 185 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $97.51 on Monday. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 3.57 and a beta of 0.44. The company has a 50 day moving average of $103.72 and a 200-day moving average of $101.98. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). The business 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 was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts forecast that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. Pinnacle West Capital's payout ratio is currently 69.73%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNW. Wall Street Zen downgraded Pinnacle West Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial dropped their price objective on Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating for the company in a research note on Monday, August 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Finally, BMO Capital Markets reduced their target price on shares of 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. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and a consensus price target of $103.57.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the 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 sale, the chief accounting officer owned 10,886 shares in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the senior vice president owned 4,910 shares of the company's stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by insiders.

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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