Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in Pinnacle West Capital Corporation $PNW

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 556.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 18,208 shares of the utilities provider’s stock after acquiring an additional 15,434 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pinnacle West Capital were worth $1,633,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Pinnacle West Capital by 2.2% during the second quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock worth $1,322,482,000 after purchasing an additional 316,629 shares in the last quarter. Invesco Ltd. boosted its holdings in Pinnacle West Capital by 2.5% in the 2nd quarter. Invesco Ltd. now owns 4,248,954 shares of the utilities provider’s stock worth $380,154,000 after buying an additional 102,778 shares during the last quarter. Geode Capital Management LLC increased its stake in Pinnacle West Capital by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,026,662 shares of the utilities provider’s stock worth $270,282,000 after buying an additional 33,216 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Pinnacle West Capital by 2.5% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,862,950 shares of the utilities provider’s stock valued at $256,148,000 after acquiring an additional 69,404 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Pinnacle West Capital by 3.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,780,490 shares of the utilities provider’s stock valued at $248,770,000 after acquiring an additional 84,727 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNW shares. Royal Bank Of Canada upgraded Pinnacle West Capital to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Barclays increased their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $85.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, December 16th. Finally, Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $96.58.

Pinnacle West Capital Trading Up 1.6%

Shares of PNW opened at $91.10 on Wednesday. Pinnacle West Capital Corporation has a 12-month low of $82.54 and a 12-month high of $96.50. The firm has a market capitalization of $10.90 billion, a P/E ratio of 18.71, a P/E/G ratio of 9.07 and a beta of 0.55. The firm has a 50-day moving average price of $88.60 and a 200 day moving average price of $89.73. 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 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a net margin of 11.20% and a return on equity of 8.57%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $3.37 EPS. Pinnacle West Capital’s revenue was up 2.9% on a year-over-year basis. 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. Sell-side analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio is presently 74.74%.

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.