UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 10,498 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• UBS AM increased its Pinnacle West Capital stake by 3.7%, acquiring 10,498 shares to own 291,694 shares valued at approximately $31.2 million. Hedge funds and other institutional investors hold 91.51% of the company.
• Analysts maintain a predominantly cautious view, with three Buy ratings and twelve Hold ratings. The consensus rating is Hold, with an average price target of $103.57.
• Pinnacle West reported quarterly EPS of $1.43, slightly below the $1.46 consensus, 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.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,694 shares of the utilities provider's stock after acquiring an additional 10,498 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Pinnacle West Capital worth $31,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Pinnacle West Capital in the 4th quarter worth about $417,000. NewEdge Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 999.1% in the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider's stock worth $782,000 after buying an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Pinnacle West Capital by 109.8% in the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider's stock worth $215,000 after buying an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Pinnacle West Capital by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider's stock valued at $42,010,000 after acquiring an additional 41,173 shares during the period. Finally, Empowered Funds LLC grew its stake in Pinnacle West Capital by 12.8% during the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 523 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Pinnacle West Capital from $107.00 to $101.00 and set a "hold" rating on the stock in a research note on Monday, August 17th. Barclays upped 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 report on Wednesday, July 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. BMO Capital Markets dropped their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Finally, Morgan Stanley reduced their target price on 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. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $103.57.

Insider Transactions at Pinnacle West Capital

In related news, CAO Elizabeth Blankenship sold 980 shares of the business's 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 owned 10,886 shares in the company, valued at $1,079,564.62. The trade was a 8.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Luis Esparza, Jr. sold 1,800 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was 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 directly owned 4,910 shares of the company's stock, valued at approximately $500,869.10. This represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $97.82 on Friday. 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 has a market capitalization 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 fifty day moving average of $103.15 and a 200-day moving average of $102.00.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm's revenue 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. As a group, equities research analysts predict that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

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

Pinnacle West Capital Company 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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