Victory Capital Management Inc. Raises Stock Position in Pinnacle West Capital Corporation $PNW

Key Points

• Victory Capital Management increased its stake in Pinnacle West by 2.5%, buying 10,875 shares to hold 448,656 shares (0.37% of the company) valued at about $40.23 million at quarter end, and other institutions also raised positions as institutional ownership stands at 91.51%.
• Pinnacle West beat quarterly EPS estimates ($0.13 vs. $0.05) and set FY2026 guidance of 4.55–4.75 EPS; the stock trades near $102.54 (market cap $12.4B), pays a $3.64 annual dividend (3.5% yield), and carries an average analyst rating of "Hold" with a $100.08 price target.

Victory Capital Management Inc. lifted its position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 448,656 shares of the utilities provider's stock after purchasing an additional 10,875 shares during the period. Victory Capital Management Inc. owned 0.37% of Pinnacle West Capital worth $40,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PNW. Tounjian Advisory Partners LLC purchased a new position in Pinnacle West Capital during the 3rd quarter worth $874,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Pinnacle West Capital by 22.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 99,333 shares of the utilities provider's stock worth $8,906,000 after buying an additional 18,049 shares during the period. Quantbot Technologies LP grew its position in shares of Pinnacle West Capital by 77.9% during the 3rd quarter. Quantbot Technologies LP now owns 30,056 shares of the utilities provider's stock worth $2,695,000 after buying an additional 13,158 shares in the last quarter. R Squared Ltd grew its position in shares of Pinnacle West Capital by 48.1% during the 3rd quarter. R Squared Ltd now owns 20,428 shares of the utilities provider's stock worth $1,832,000 after buying an additional 6,634 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in shares of Pinnacle West Capital by 59.0% during the third quarter. DNB Asset Management AS now owns 27,806 shares of the utilities provider's stock valued at $2,493,000 after buying an additional 10,315 shares during the period. Institutional investors own 91.51% of the company's stock.

Pinnacle West Capital Trading Up 0.7%

Shares of NYSE PNW opened at $102.54 on Friday. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $103.21. The business has a fifty day moving average price of $94.57 and a 200 day moving average price of $91.07. The stock has a market capitalization of $12.40 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.54 and a quick ratio of 0.36.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital's payout ratio is presently 71.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on PNW shares. UBS Group lifted their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, December 17th. Zacks Research raised shares of Pinnacle West Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, November 10th. Wells Fargo & Company boosted their price target on shares of Pinnacle West Capital from $91.00 to $97.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Citigroup upped their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $103.00 price objective on shares of Pinnacle West Capital in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $100.08.

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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