Victory Capital Management Inc. Grows Stake in Pinnacle West Capital Corporation $PNW

Victory Capital Management Inc. raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 448,656 shares of the utilities provider’s stock after purchasing an additional 10,875 shares during the period. Victory Capital Management Inc.’s holdings in Pinnacle West Capital were worth $40,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tounjian Advisory Partners LLC acquired a new stake in shares of Pinnacle West Capital in the 3rd quarter worth $874,000. Harvest Portfolios Group Inc. grew its stake in Pinnacle West Capital by 22.2% during 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 last quarter. Quantbot Technologies LP increased its position in Pinnacle West Capital by 77.9% during the 3rd quarter. Quantbot Technologies LP now owns 30,056 shares of the utilities provider’s stock valued at $2,695,000 after buying an additional 13,158 shares in the last quarter. R Squared Ltd raised its stake in Pinnacle West Capital by 48.1% in the third quarter. R Squared Ltd now owns 20,428 shares of the utilities provider’s stock valued at $1,832,000 after buying an additional 6,634 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in Pinnacle West Capital by 59.0% in 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 last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNW shares. BMO Capital Markets boosted their price target on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a research note on Thursday, February 26th. Morgan Stanley set a $96.00 price objective on shares of Pinnacle West Capital in a research report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, UBS Group raised their price target on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pinnacle West Capital presently has an average rating of “Hold” and a consensus target price of $100.08.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $102.54 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54. The stock has a 50-day moving average of $94.57 and a two-hundred day moving average of $91.07. The stock has a market cap of $12.40 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.76 and a beta of 0.54. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $103.21.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned ($0.06) earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts predict that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 71.94%.

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.