Edgestream Partners L.P. Sells 73,626 Shares of Pinnacle West Capital Corporation $PNW

Edgestream Partners L.P. trimmed its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 50.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,425 shares of the utilities provider’s stock after selling 73,626 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Pinnacle West Capital worth $7,297,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC bought a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $417,000. NewEdge Advisors LLC raised its holdings in Pinnacle West Capital by 999.1% during the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock valued at $782,000 after buying an additional 7,463 shares during the period. Jones Financial Companies Lllp raised its holdings in Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after buying an additional 1,180 shares during the period. Goldman Sachs Group Inc. lifted its position in Pinnacle West Capital by 10.3% in 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 last quarter. Finally, Empowered Funds LLC boosted its stake in 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. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares in the company, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. TD Cowen raised their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Jefferies Financial Group restated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial reduced their price target on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Finally, Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.07.

Pinnacle West Capital Stock Down 1.0%

NYSE:PNW opened at $101.29 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 1-year low of $85.32 and a 1-year high of $111.16. The company has a 50-day moving average of $104.61 and a 200 day moving average of $100.98. The firm has a market cap of $12.27 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 3.72 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. 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 4.74 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

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.