First Trust Advisors LP Cuts Stake in Pinnacle West Capital Corporation $PNW

First Trust Advisors LP lowered its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 28.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 982,564 shares of the utilities provider’s stock after selling 388,586 shares during the quarter. First Trust Advisors LP’s holdings in Pinnacle West Capital were worth $98,993,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the second quarter worth $27,000. MUFG Securities EMEA plc bought a new stake in Pinnacle West Capital in the 2nd quarter valued at $32,000. Clearstead Advisors LLC increased its holdings in Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 185 shares during the last quarter. Dorato Capital Management purchased a new stake in Pinnacle West Capital in the 4th quarter worth $69,000. Finally, Root Financial Partners LLC lifted its stake in Pinnacle West Capital by 168.2% in the 1st quarter. Root Financial Partners LLC now owns 885 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PNW. Jefferies Financial Group restated a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. TD Cowen increased their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research note on Friday, May 15th. BMO Capital Markets cut their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday. Barclays lifted their price objective on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $104.07.

Pinnacle West Capital Trading Up 0.8%

PNW opened at $106.22 on Friday. The firm has a market cap of $12.87 billion, a P/E ratio of 19.78, a P/E/G ratio of 3.83 and a beta of 0.43. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average of $104.42 and a 200 day moving average of $100.47.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’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 forecast that Pinnacle West Capital Corporation will post 4.74 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared 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 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Insiders Place Their Bets

In related news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares in the company, valued at $656,766. This trade represents a 49.75% 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. Insiders own 0.19% of the company’s stock.

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.