The Manufacturers Life Insurance Company Makes New Investment in Pinnacle West Capital Corporation $PNW

The Manufacturers Life Insurance Company acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 248,651 shares of the utilities provider’s stock, valued at approximately $26,606,000.

Several other large investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Pinnacle West Capital during the 2nd quarter valued at $79,000. Van Hulzen Asset Management LLC purchased a new stake in shares of Pinnacle West Capital in the second quarter valued at $214,000. Sanctuary Advisors LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter worth about $577,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Pinnacle West Capital during the 2nd quarter valued at about $16,583,000. Finally, Magellan Asset Management Ltd purchased a new stake in Pinnacle West Capital in the 2nd quarter worth about $13,659,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial cut their target price on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Barclays upped their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. BMO Capital Markets dropped their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $103.57.

Insider Buying and Selling

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the business’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 directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Trading Down 0.9%

Shares of NYSE:PNW opened at $97.76 on Friday. The business’s 50-day moving average is $103.82 and its 200 day moving average is $101.95. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The firm has a market capitalization of $11.85 billion, a P/E ratio of 18.73, a P/E/G ratio of 3.61 and a beta of 0.44. 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 quarterly 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). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $1.58 EPS. Pinnacle West Capital’s revenue 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. On average, research analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share 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. Investors of record on Monday, August 3rd will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 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.