TD Asset Management Inc reduced its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 14.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,643 shares of the utilities provider's stock after selling 13,137 shares during the quarter. TD Asset Management Inc owned about 0.06% of Pinnacle West Capital worth $7,300,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Pinnacle West Capital by 32.2% in the 4th quarter. Invesco Ltd. now owns 4,298,009 shares of the utilities provider's stock valued at $364,342,000 after purchasing an additional 1,045,788 shares during the period. Merewether Investment Management LP purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $69,233,000. Two Sigma Advisers LP boosted its stake in Pinnacle West Capital by 462.8% during the fourth quarter. Two Sigma Advisers LP now owns 912,900 shares of the utilities provider's stock valued at $77,387,000 after buying an additional 750,700 shares during the period. Deutsche Bank AG grew its position in Pinnacle West Capital by 33.4% during the fourth quarter. Deutsche Bank AG now owns 2,435,065 shares of the utilities provider's stock worth $206,420,000 after buying an additional 610,042 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Pinnacle West Capital by 173.1% in the 4th quarter. First Trust Advisors LP now owns 879,551 shares of the utilities provider's stock worth $74,560,000 after acquiring an additional 557,539 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on PNW. BMO Capital Markets assumed coverage on Pinnacle West Capital in a research report on Tuesday, May 13th. They set a "market perform" rating and a $95.00 price target for the company. UBS Group reissued a "neutral" rating and issued a $98.00 price target (up previously from $96.00) on shares of Pinnacle West Capital in a research note on Friday, July 11th. Wells Fargo & Company increased their price target on shares of Pinnacle West Capital from $95.00 to $98.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. KeyCorp dropped their price objective on shares of Pinnacle West Capital from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Finally, Morgan Stanley reduced their target price on Pinnacle West Capital from $88.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $96.78.
Get Our Latest Report on PNW
Pinnacle West Capital Stock Up 1.2%
Shares of NYSE:PNW opened at $90.59 on Friday. Pinnacle West Capital Corporation has a 12-month low of $81.47 and a 12-month high of $96.50. The company has a current ratio of 0.50, a quick ratio of 0.34 and a debt-to-equity ratio of 1.18. The stock's 50-day moving average price is $90.27 and its 200-day moving average price is $90.75. The stock has a market capitalization of $10.82 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 9.32 and a beta of 0.42.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). Pinnacle West Capital had a return on equity of 8.78% and a net margin of 11.28%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $988.95 million. During the same period last year, the firm earned $0.15 earnings per share. Pinnacle West Capital's revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.
Pinnacle West Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 1st will be issued a dividend of $0.895 per share. This represents a $3.58 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 1st. Pinnacle West Capital's dividend payout ratio is currently 71.17%.
Pinnacle West Capital Company Profile
(
Free Report)
Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.
Recommended Stories
Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pinnacle West Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinnacle West Capital wasn't on the list.
While Pinnacle West Capital currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.