Jupiter Topco LLC Takes Position in Pinnacle West Capital Corporation $PNW

Jupiter Topco LLC bought a new stake in Pinnacle West Capital Corporation (NYSE:PNW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,939 shares of the utilities provider’s stock, valued at approximately $5,879,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Pinnacle West Capital during the 2nd quarter worth approximately $703,598,000. Norges Bank purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. increased its stake in shares of Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after acquiring an additional 1,369,350 shares during the period. Soroban Capital Partners LP increased its stake in shares of Pinnacle West Capital by 34.0% in the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after acquiring an additional 977,411 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth $68,008,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.0%

PNW stock opened at $97.66 on Tuesday. The company’s 50-day simple moving average is $103.63 and its 200-day simple moving average is $102.00. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $111.16. The firm has a market cap of $11.84 billion, a P/E ratio of 18.71, a PEG ratio of 3.57 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last announced 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). 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%. Pinnacle West Capital’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts forecast that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Jefferies Financial Group restated a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Truist Financial dropped their target price on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.57.

Insider Buying and Selling

In other news, 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 value of $97,186.60. Following the completion of the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the 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 transaction, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This trade represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by insiders.

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.