Hsbc Holdings PLC Lowers Stake in Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC trimmed its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 16.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 331,679 shares of the utilities provider’s stock after selling 66,177 shares during the period. Hsbc Holdings PLC owned 0.28% of Pinnacle West Capital worth $29,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNW. Exchange Traded Concepts LLC increased its position in Pinnacle West Capital by 1.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock valued at $881,000 after acquiring an additional 122 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in shares of Pinnacle West Capital by 0.9% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,516 shares of the utilities provider’s stock valued at $1,209,000 after purchasing an additional 122 shares during the last quarter. Probity Advisors Inc. increased its holdings in shares of Pinnacle West Capital by 2.6% in the first quarter. Probity Advisors Inc. now owns 6,214 shares of the utilities provider’s stock valued at $592,000 after purchasing an additional 158 shares during the period. Fifth Third Bancorp raised its stake in shares of Pinnacle West Capital by 4.6% during the second quarter. Fifth Third Bancorp now owns 3,643 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 160 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Pinnacle West Capital by 4.8% during the first quarter. Atria Wealth Solutions Inc. now owns 3,619 shares of the utilities provider’s stock worth $345,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PNW shares. TD Cowen assumed coverage on shares of Pinnacle West Capital in a research note on Thursday, October 16th. They issued a “hold” rating and a $97.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, November 4th. KeyCorp cut their price target on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $99.00 price objective on shares of Pinnacle West Capital in a report on Monday, October 20th. Finally, Argus cut their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.38.

Pinnacle West Capital Stock Down 1.7%

PNW stock opened at $89.33 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $89.95 and its 200 day moving average price is $90.10. Pinnacle West Capital Corporation has a 52 week low of $81.47 and a 52 week high of $96.50. The company has a market cap of $10.69 billion, a P/E ratio of 18.42, a P/E/G ratio of 9.23 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. On average, research analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 3rd were given a dividend of $0.91 per share. The ex-dividend date was Monday, November 3rd. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 4.1%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 74.74%.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.