Rakuten Investment Management Inc. Purchases New Holdings in Pinnacle West Capital Corporation $PNW

Rakuten Investment Management Inc. acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,849 shares of the utilities provider’s stock, valued at approximately $1,386,000.

Other large investors have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Pinnacle West Capital in the 2nd quarter valued at $703,598,000. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of Pinnacle West Capital by 44.3% during 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 last quarter. Invesco Ltd. raised its position in shares of Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock worth $376,910,000 after acquiring an additional 74,023 shares during the last quarter. Soroban Capital Partners LP lifted its stake in shares of Pinnacle West Capital by 34.0% during the first quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after acquiring an additional 977,411 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after acquiring an additional 27,861 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

PNW stock opened at $97.51 on Monday. The business’s fifty day moving average is $103.72 and its 200-day moving average is $101.98. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. The company has a market cap of $11.82 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts forecast that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued 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 (DPR) is 69.73%.

Analyst Upgrades and Downgrades

PNW has been the topic of several recent research reports. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. BMO Capital Markets cut their target price on shares of 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. Jefferies Financial Group restated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Finally, Truist Financial lowered their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $103.57.

Insider Activity

In other news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elizabeth A. Blankenship sold 980 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were 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 of the company’s stock, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently 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.