Jefferies Financial Group Inc. Invests $1.93 Million in Pinnacle West Capital Corporation $PNW

Jefferies Financial Group Inc. acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 18,003 shares of the utilities provider’s stock, valued at approximately $1,926,000.

Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Pinnacle West Capital during the 2nd quarter worth about $4,012,000. Capstone Investment Advisors LLC bought a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at about $530,000. Corient Private Wealth LP purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth approximately $9,405,000. Invst LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth approximately $729,000. Finally, Jupiter Topco LLC bought a new position in shares of Pinnacle West Capital during the second quarter valued at approximately $5,879,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the business’s stock in a transaction on Monday, August 10th. The shares were 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 of the company’s stock, valued at $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction 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 transaction, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, BMO Capital Markets cut their target price on 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. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $103.57.

Pinnacle West Capital Stock Down 0.4%

Shares of PNW stock opened at $97.51 on Friday. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The stock’s fifty day moving average price is $103.72 and its 200 day moving average price is $101.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. During the same quarter last year, the business posted $1.58 earnings per share. The company’s quarterly 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 expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. Pinnacle West Capital’s dividend payout ratio 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.