Squarepoint Ops LLC Acquires 388,325 Shares of Pinnacle West Capital Corporation $PNW

Squarepoint Ops LLC raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 54.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,106,609 shares of the utilities provider’s stock after acquiring an additional 388,325 shares during the quarter. Squarepoint Ops LLC owned about 0.92% of Pinnacle West Capital worth $98,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PNW. Norges Bank bought a new stake in Pinnacle West Capital during the 4th quarter valued at $140,468,000. Capital Research Global Investors raised its holdings in Pinnacle West Capital by 5.0% during the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after acquiring an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Pinnacle West Capital by 8.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after acquiring an additional 568,581 shares during the period. Assenagon Asset Management S.A. raised its holdings in Pinnacle West Capital by 133.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock valued at $81,665,000 after acquiring an additional 526,212 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Pinnacle West Capital by 458.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 296,963 shares of the utilities provider’s stock valued at $26,626,000 after acquiring an additional 243,769 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the transaction, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. The trade was a 49.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

PNW has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. TD Cowen upped their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Citigroup upped their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. BMO Capital Markets upped their price target 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, Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average price target of $102.50.

Pinnacle West Capital Stock Down 0.2%

Shares of NYSE:PNW opened at $103.26 on Tuesday. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The firm has a fifty day moving average of $101.74 and a 200 day moving average of $96.87. The firm has a market capitalization of $12.51 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (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 company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. The firm’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. As a group, research analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were given a $0.91 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.5%. Pinnacle West Capital’s payout ratio is 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.