Russell Investments Group Ltd. Sells 33,337 Shares of Pinnacle West Capital Corporation $PNW

Russell Investments Group Ltd. lowered its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 368,457 shares of the utilities provider’s stock after selling 33,337 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pinnacle West Capital were worth $32,464,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PNW. First Trust Advisors LP raised its holdings in shares of Pinnacle West Capital by 6.3% during the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after acquiring an additional 76,930 shares in the last quarter. HUB Investment Partners LLC bought a new stake in Pinnacle West Capital in the third quarter valued at $300,000. Neo Ivy Capital Management purchased a new position in Pinnacle West Capital during the 3rd quarter valued at $541,000. Gabelli Funds LLC increased its position in Pinnacle West Capital by 0.5% during the 3rd quarter. Gabelli Funds LLC now owns 332,100 shares of the utilities provider’s stock valued at $29,776,000 after purchasing an additional 1,600 shares during the period. Finally, Barclays PLC raised its holdings in Pinnacle West Capital by 34.7% in the 3rd quarter. Barclays PLC now owns 760,373 shares of the utilities provider’s stock worth $68,175,000 after purchasing an additional 195,865 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

Shares of PNW opened at $101.45 on Friday. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $103.21. The firm’s 50-day simple moving average is $95.54 and its two-hundred day simple moving average is $91.33. The stock has a market cap of $12.27 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 3.69 and a beta of 0.54. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54.

Pinnacle West Capital (NYSE:PNW) last released 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. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned ($0.06) earnings per share. The business’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. Analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PNW has been the subject of several research analyst reports. Stifel Nicolaus set a $107.00 target price on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Barclays reduced their price target on shares of Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. UBS Group raised their price objective 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. Wells Fargo & Company lifted their price objective on Pinnacle West Capital from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, TD Cowen upped their target price on Pinnacle West Capital from $97.00 to $100.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pinnacle West Capital currently has a consensus 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.