Ceredex Value Advisors LLC Buys Shares of 110,975 Pinnacle West Capital Corporation $PNW

Ceredex Value Advisors LLC purchased a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 110,975 shares of the utilities provider’s stock, valued at approximately $11,874,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in Pinnacle West Capital in the 4th quarter valued at approximately $417,000. NewEdge Advisors LLC lifted its stake in Pinnacle West Capital by 999.1% during the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after purchasing an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Pinnacle West Capital by 109.8% during the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Pinnacle West Capital by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock worth $42,010,000 after buying an additional 41,173 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Pinnacle West Capital by 12.8% during the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock worth $438,000 after buying an additional 523 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinnacle West Capital

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

Wall Street Analyst Weigh In

PNW has been the subject of a number of research reports. Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research note on Wednesday, July 22nd. 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 report on Monday. TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. BMO Capital Markets reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.79.

Pinnacle West Capital Stock Down 0.1%

Shares of NYSE PNW opened at $99.29 on Friday. The stock has a market cap of $12.03 billion, a P/E ratio of 19.02, a PEG ratio of 3.63 and a beta of 0.44. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16. The business’s fifty day simple moving average is $104.33 and its 200-day simple moving average is $101.80.

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

Pinnacle West Capital Dividend Announcement

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

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.