California Public Employees Retirement System Trims Holdings in Pinnacle West Capital Corporation $PNW

California Public Employees Retirement System reduced its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 14.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 454,833 shares of the utilities provider’s stock after selling 77,876 shares during the quarter. California Public Employees Retirement System’s holdings in Pinnacle West Capital were worth $40,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PNW. Gabelli Funds LLC lifted its stake in Pinnacle West Capital by 0.4% during the second quarter. Gabelli Funds LLC now owns 330,500 shares of the utilities provider’s stock worth $29,570,000 after purchasing an additional 1,300 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Pinnacle West Capital by 51.8% in the 2nd quarter. Jump Financial LLC now owns 82,717 shares of the utilities provider’s stock valued at $7,401,000 after buying an additional 28,221 shares during the period. Tema Etfs LLC lifted its stake in Pinnacle West Capital by 34.9% during the 2nd quarter. Tema Etfs LLC now owns 38,709 shares of the utilities provider’s stock worth $3,463,000 after acquiring an additional 10,007 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Pinnacle West Capital by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 35,915 shares of the utilities provider’s stock worth $3,213,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Pinnacle West Capital by 12.1% during the 2nd quarter. Guggenheim Capital LLC now owns 42,306 shares of the utilities provider’s stock valued at $3,785,000 after acquiring an additional 4,557 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “market perform” rating and set a $99.00 price target on shares of Pinnacle West Capital in a research note on Monday, October 20th. TD Cowen assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, October 16th. They set a “hold” rating and a $97.00 target price on the stock. Zacks Research upgraded shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Morgan Stanley set a $91.00 price target on shares of Pinnacle West Capital in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average target price of $97.58.

Pinnacle West Capital Price Performance

Shares of PNW opened at $86.52 on Thursday. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 8.63 and a beta of 0.54. The firm’s fifty day simple moving average is $89.99 and its 200-day simple moving average is $89.93. Pinnacle West Capital Corporation has a twelve month low of $81.47 and a twelve month high of $96.50. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.28.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a return on equity of 8.57% and a net margin of 11.20%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company posted $3.37 earnings per share. Pinnacle West Capital’s revenue for the quarter was up 2.9% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS and its FY 2025 guidance at 4.900-5.100 EPS. Equities analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 4.2%. Pinnacle West Capital’s payout ratio is presently 74.74%.

Pinnacle West Capital Profile

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.