Capital Research Global Investors Reduces Stock Position in Pinnacle West Capital Corporation $PNW

Capital Research Global Investors reduced its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 15.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,466,845 shares of the utilities provider’s stock after selling 2,386,457 shares during the period. Capital Research Global Investors owned about 0.11% of Pinnacle West Capital worth $1,194,509,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Pinnacle West Capital during the second quarter worth about $27,000. MUFG Securities EMEA plc purchased a new stake in shares of Pinnacle West Capital during the second quarter worth about $32,000. Clearstead Advisors LLC boosted its holdings in shares of Pinnacle West Capital by 88.5% during the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 185 shares during the period. Dorato Capital Management purchased a new stake in shares of Pinnacle West Capital during the fourth quarter worth about $69,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Pinnacle West Capital by 102.1% during the third quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 488 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial dropped their target price 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. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Barclays increased their target price on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. BMO Capital Markets raised their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a report on Thursday, February 26th. Finally, Stifel Nicolaus set a $107.00 price objective on shares of Pinnacle West Capital in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $102.50.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $103.16 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $104.92. The company has a 50-day simple moving average of $101.49 and a two-hundred day simple moving average of $96.25. The firm has a market capitalization of $12.50 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 3.77 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted ($0.04) earnings per share. Pinnacle West Capital’s quarterly revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 4th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

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.