Hsbc Holdings PLC Has $57.31 Million Stock Position in Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC grew its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 49.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 645,487 shares of the utilities provider’s stock after buying an additional 214,907 shares during the quarter. Hsbc Holdings PLC owned approximately 0.53% of Pinnacle West Capital worth $57,309,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. increased its holdings in Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after purchasing an additional 1,369,350 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Pinnacle West Capital in the fourth quarter valued at about $68,008,000. Capital Research Global Investors raised its position in Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after purchasing an additional 758,190 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Pinnacle West Capital during the fourth quarter valued at about $57,379,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PNW. Morgan Stanley set a $92.00 price target on Pinnacle West Capital in a report on Thursday, May 21st. BMO Capital Markets raised their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a report on Thursday, February 26th. Truist Financial cut their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Barclays boosted their target price on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.50.

Pinnacle West Capital Trading Up 0.2%

Shares of PNW stock opened at $102.48 on Tuesday. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.75 and a beta of 0.44. The stock has a 50-day moving average of $101.71 and a 200-day moving average of $97.31. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $105.08.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts forecast that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.6%. Pinnacle West Capital’s payout ratio is 67.78%.

Insider Activity

In other 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 sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.