2,700 Shares in Pinnacle West Capital Corporation $PNW Bought by South Dakota Investment Council

South Dakota Investment Council acquired a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,700 shares of the utilities provider’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNW. Clearstead Trust LLC acquired a new stake in Pinnacle West Capital in the 1st quarter valued at $25,000. Costello Asset Management INC acquired a new position in shares of Pinnacle West Capital during the 1st quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Pinnacle West Capital during the 2nd quarter worth about $31,000. Brooklyn Investment Group increased its stake in shares of Pinnacle West Capital by 440.0% during the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 396 shares during the last quarter. Finally, HM Payson & Co. increased its stake in shares of Pinnacle West Capital by 49.7% during the 1st quarter. HM Payson & Co. now owns 590 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 196 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,496 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $92.37, for a total transaction of $600,035.52. Following the completion of the sale, the executive vice president owned 56 shares of the company’s stock, valued at approximately $5,172.72. This represents a 99.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $89.30 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $10.66 billion, a P/E ratio of 18.41, a P/E/G ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a 12-month low of $81.47 and a 12-month high of $96.50. The firm has a 50-day moving average price of $89.53 and a two-hundred day moving average price of $90.62.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm posted $3.37 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.91 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.1%. Pinnacle West Capital’s payout ratio is currently 74.74%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Mizuho downgraded shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $90.00 in a report on Tuesday, September 9th. KeyCorp reduced their target price on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. TD Cowen began coverage on shares of Pinnacle West Capital in a report on Thursday, October 16th. They issued a “hold” rating and a $97.00 price objective for the company. Finally, UBS Group boosted their price objective on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.54.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.