Pinnacle West Capital Corporation $PNW Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Pinnacle West Capital Corporation (NYSE:PNW) by 101.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,456,941 shares of the utilities provider’s stock after purchasing an additional 733,069 shares during the quarter. Wellington Management Group LLP owned approximately 1.20% of Pinnacle West Capital worth $155,893,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PNW. JFS Wealth Advisors LLC increased its position in Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 126 shares during the period. CYBER HORNET ETFs LLC purchased a new position in Pinnacle West Capital during the second quarter worth $27,000. Compass Financial Management LLC acquired a new position in shares of Pinnacle West Capital in the second quarter valued at approximately $33,000. Bell Investment Advisors Inc grew its position in shares of Pinnacle West Capital by 144.9% in the second quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter worth $32,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the completion of the transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of several recent research reports. Barclays increased 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. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday, August 12th. Truist Financial lowered their target price on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a research note on Monday, August 17th. Finally, Morgan Stanley cut their price target on Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $103.57.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $97.66 on Tuesday. The company has a market cap of $11.84 billion, a PE ratio of 18.71, a P/E/G ratio of 3.57 and a beta of 0.44. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The company has a fifty day moving average price of $103.63 and a two-hundred day moving average price of $102.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.Pinnacle West Capital’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. Pinnacle West Capital’s payout ratio is currently 69.73%.

About Pinnacle West Capital

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.