Tidal Investments LLC Purchases 24,946 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Tidal Investments increased its Pinnacle West Capital position by 233.3% in the second quarter, purchasing 24,946 additional shares and bringing its total holdings to 35,637 shares valued at approximately $3.8 million.
• Analysts remain broadly cautious on PNW, with three Buy ratings and eleven Holds, producing an average rating of “Hold” and an average price target of $104.62.
• Pinnacle West reported quarterly EPS of $1.43, slightly below the $1.46 consensus estimate, while revenue rose 7.1% year over year to $1.46 billion. The company maintains a quarterly dividend of $0.91 per share, equivalent to a 3.8% yield.

Tidal Investments LLC boosted its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 233.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,637 shares of the utilities provider's stock after buying an additional 24,946 shares during the quarter. Tidal Investments LLC's holdings in Pinnacle West Capital were worth $3,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC lifted its position in Pinnacle West Capital by 11.7% in the second quarter. MCF Advisors LLC now owns 10,889 shares of the utilities provider's stock worth $1,165,000 after purchasing an additional 1,142 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Pinnacle West Capital by 23.3% during the second quarter. Integrated Wealth Concepts LLC now owns 7,004 shares of the utilities provider's stock worth $749,000 after buying an additional 1,322 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Pinnacle West Capital by 2.4% in the 2nd quarter. Baird Financial Group Inc. now owns 36,319 shares of the utilities provider's stock valued at $3,886,000 after buying an additional 844 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in Pinnacle West Capital by 0.4% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 65,932 shares of the utilities provider's stock valued at $7,055,000 after buying an additional 279 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Pinnacle West Capital by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 33,395 shares of the utilities provider's stock valued at $3,573,000 after buying an additional 503 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PNW shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $129.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, July 8th. BMO Capital Markets lowered 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. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $97.00 to $94.00 and set an "equal weight" rating for the company in a research report on Friday, August 21st. Barclays raised their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 1st. Finally, Truist Financial decreased their price objective 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. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $104.62.

Insider Activity at Pinnacle West Capital

In other news, SVP Luis Esparza, Jr. sold 1,800 shares of the firm'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 transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Elizabeth Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction that occurred on Monday, August 10th. The shares were 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 owned 10,886 shares of the company's stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Down 0.7%

Shares of NYSE:PNW opened at $95.43 on Tuesday. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $111.16. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. The company's fifty day moving average is $101.62 and its 200-day moving average is $101.90. The company has a market capitalization of $11.57 billion, a PE ratio of 18.28, a P/E/G ratio of 3.51 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its 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). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $1.58 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, August 3rd. Pinnacle West Capital's dividend payout ratio is currently 69.73%.

About Pinnacle West Capital

Pinnacle West Capital Corporation NYSE: PNW is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.

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