Magellan Asset Management Ltd Acquires 22,790 Shares of Pinnacle West Capital Corporation $PNW

Magellan Asset Management Ltd grew its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,293 shares of the utilities provider’s stock after purchasing an additional 22,790 shares during the quarter. Magellan Asset Management Ltd owned about 0.10% of Pinnacle West Capital worth $11,616,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital in the second quarter valued at about $27,000. MUFG Securities EMEA plc acquired a new position in Pinnacle West Capital during the 2nd quarter worth about $32,000. Clearstead Advisors LLC grew its holdings in Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 185 shares during the last quarter. Dorato Capital Management bought a new stake in Pinnacle West Capital during the 4th quarter worth about $69,000. Finally, Brown Brothers Harriman & Co. increased its position in Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock valued at $87,000 after acquiring an additional 488 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PNW shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Truist Financial lowered their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a report on Friday, May 29th. Barclays boosted their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Morgan Stanley set a $95.00 price objective on Pinnacle West Capital in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.14.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $105.61 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The company has a market cap of $12.80 billion, a PE ratio of 19.67, a PEG ratio of 3.87 and a beta of 0.43. The company’s 50-day moving average is $104.01 and its two-hundred day moving average is $100.19.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. Pinnacle West Capital’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts anticipate that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 67.78%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.